While inflation in the eurozone eased slightly in November since June 2021, it remains in the double digits as rising food prices and high energy bills continue to squeeze budgets. Read more on news regarding Euro inflation with Mark Kennedy & Co.
ECB’s Lagarde says we haven’t reached inflation peak
Today, European Central Bank (ECB) President Christine Lagarde said, Euro zone inflation has not peaked and the risk is that it will turn out even higher than currently expected. Staying vague about size and number of ECB’s future interest rate hikes, Ms Lagarde stated it will depend on a number of variables.
Lower-income households experiencing greater inflation
Inflation continues to be greater for households on lower incomes, rural households and those headed by people over 65. This is largely due to the fact that these households spend a great proportion of their incomes on utilities, fuel, and transport. It’s these areas that inflation has affected the most.
Annual rate of inflation up to 9.2% in October
The annual rate of inflation rose to 9.2% in October, new figures from the Central Statistics Office show today. This figure is higher than that of September and marks the highest rate of inflation since June 1984 when inflation was 9.7%. The CSO noted that consumer prices have been rising on an annual basis since April 2021. This being with annual inflation of 5% or more recorded in each month since October of last year.
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