10/1/2021- 11:23 p.m.
Eurozone inflation HIGHEST since global financial crisis amid energy costs surge! (Reuters)
September saw the EU’s highest consumer energy prices in 13 years, pushing the bloc’s inflation to 3.4% – far outstripping the European Central Bank’s target of 2%.
Prices rose mainly on a 17.4% hike in energy prices.
Although ECB President Christine Lagarde tried to ward off concerns by claiming it was due to the pandemic, Eurostat – the EU’s official statistics agency – revealed core inflation, which discounts certain commodities including energy, was up from 1.6% to 1.9% last month.
Brussels is reportedly planning emergency measures to help relieve the burden, such as cutting VAT and excises on energy.
