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Economists expect new record inflation for September: “Just under 10 percent” | Economic crisis & More Latest News Here

 

Inflation in the eurozone is likely to have risen further this month to a new all-time high. For example, economists polled by Bloomberg news agency expect inflation to fall just below 10 percent in September.

Continued high energy and food prices have made life in the eurozone a lot more expensive for months now than a year ago. Particularly since the Russian invasion of Ukraine, inflation has risen rapidly.

Eurostat reported an annual inflation rate of 9.1 percent for August. That was already the highest inflation ever for the euro area at the time. The new data for the month of September is expected to be announced on Friday.

recession

Rising inflation is putting pressure on the European Central Bank (ECB) to raise interest rates even more. At the last interest rate meeting, there was already talk of an increase of three quarters of a percentage point. Another significant rise in interest rates is expected for October.

Moreover, more and more experts fear that the eurozone economy will plunge into recession due to interest rate hikes and high inflation, as household purchasing power is under severe pressure and people will spend less and less. Also, some companies have to stop production because of the high energy costs.

Also read:

Every month 1 in 7 products changes price… and usually it is an increase (+)

European Central Bank must raise interest rates further to fight inflation

Economists expect new record inflation for September: “Just under 10 percent” | Economic crisis
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