Christine Lagarde, President of the European Central Bank.
Daniel Roland | Afp | Getty Images
The cost of living in the eurozone reached another record high last month, raising additional questions about how European Central Bank Rising fast can stabilize consumer prices.
Headline inflation for March was 7.5% year-on-year, according to preliminary data from the European Statistics Office’s Eurostat released on Friday.
The numbers come at a time Russia’s invasion of Ukraine The renewed economic uncertainty has brought some economists to wonder if the eurozone will enter a recession in 2022 – something European officials have so far refused to say.
Prime Minister of Italy Mario TracyFor example, he said last week that the invasion of Ukraine would cause economic damage, but not a recession.
The eurozone has taken unprecedented steps to punish Russia for its decision to invade Ukraine, such as blocking the sale of luxury goods, and these sanctions are having repercussions on the eurozone economy itself.
In addition, war has other side effects, especially higher energy prices – which increase inflation across the block.
This is an important news and will be updated soon.
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