• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Monday, July 14, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Inflation in European Union touches 10% mark

by Thomas Babychan
September 30, 2022
in Business, Markets, News, Trending, World
Reading Time: 2 mins read
0
Argentina's inflation

Credits: Moneycontrol

TwitterWhatsappLinkedin

Inflation is not showing any signs of respite in the European Union as consumer prices shot up annually by 10% in the month of September 2022. Countries belonging to the European Union are witnessing record levels of inflation and increase in consumer price index as Russian invasion of Ukraine is continuing in full swing.

You might also like

China’s Maglev Train Hits 404 mph, Paving Way for the Future of Ultra-Fast Travel

SpaceX Injects $2 Billion Into Elon Musk’s AI Startup xAI Amid Broader $5 Billion Funding Push

Trump Threatens 30% Tariffs on EU and Mexico, Escalating Trade Disputes Ahead of August Deadline

According to latest numbers released by European commission, nations which are using Euro as their main currency witnessed consumer price index rise by 10% in September when compared to last year. Past reports and general statistics suggests that the current levels of inflation are highest since the creation of Euro in 1999.

Consumer Price Index rose by 9.1% annually in month of August 2022 which was at that time the record inflation rate in the history of European Union. The increasing prices of essential commodities in the European markets shows that slowing down of oil prices internationally and such moves have not helped the European economy.

Energy prices saw the highest jump in Europe as the consumer price index posted a 40.8 per cent annual jump in the prices of energy commodities. Similar to energy prices, cost of food also increased by 11.8 percent in September 2022. On August 2022, food prices CPI was standing at 10.6 per cent annually.

The economic report released by European commission states that 10 out of 19 countries in the eurozone posted overall inflation at double digits in the month of September. The countries which witnessed double digit inflation rate includes Germany and Netherlands, two major developed economies in the European Union. Germany which is the largest economy in the eurozone has been struggling with high inflation rates for the past few months. All the macroeconomic decisions taken by Germany has rem,ainedf futile till this point in controlling high inflation rates.

World in general and European Union in particular has been witnessing historically high inflation rates for past few months as Russian special military operation in Ukraine created severe energy crisis in the European nations. Decision of the Russian government to cut of gas and oil supply to Europe acted as the major reason for hikes in commodity prices.

As the demand for oil and gas increased internationally, prices for those commodities rose alongside. That had a domino effect of other essential commodities such as food and clothing. The global supply chain crisis triggered by COVID-19 pandemic and china USA trade war also played a major role in intensifying impacts of inflation on the European economies.

Tags: #European Central Bank#European_Union#europeanunion#euros#InflationEuropeEuropean UnionEurozoneinflationary pressure
Tweet54SendShare15
Previous Post

Waiting for the big reveal on Tesla AI Day 2 in California

Next Post

Tata Industries to Separate 4 Startup Companies into Tata Digital.

Thomas Babychan

Thomas Babychan is an experienced business and economic journalist with a focus on international trade, stock market, banking, and multilateral organizations. He also has expertise in international relations and diplomacy.

Recommended For You

China’s Maglev Train Hits 404 mph, Paving Way for the Future of Ultra-Fast Travel

by Harikrishnan A
July 14, 2025
0
China’s Maglev Train Hits 404 mph, Paving Way for the Future of Ultra-Fast Travel

China has reached a major milestone in its quest to revolutionize high-speed transportation. In a recent test conducted at Donghu Laboratory in Hubei Province, a magnetic levitation (Maglev)...

Read more

SpaceX Injects $2 Billion Into Elon Musk’s AI Startup xAI Amid Broader $5 Billion Funding Push

by Harikrishnan A
July 14, 2025
0
Elon Musk Threatens “Thermonuclear Lawsuit” Against Media Watchdog Amid Ad Exodus on X

Elon Musk's artificial intelligence company, xAI, has received a significant financial boost with SpaceX contributing $2 billion as part of a larger $5 billion funding round, according to...

Read more

Trump Threatens 30% Tariffs on EU and Mexico, Escalating Trade Disputes Ahead of August Deadline

by Harikrishnan A
July 14, 2025
0
Trump Campaign Confirms Security Breach Amid Concerns of Foreign Interference

President Donald Trump is once again shaking up global trade by threatening to impose a 30% tariff on imports from two of the United States’ closest trading partners:...

Read more
Next Post
RATAN TATA; THE PRIME INDUSTRIALIST INVESTS IN PNC

Tata Industries to Separate 4 Startup Companies into Tata Digital.

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?