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Eurozone Inflation Hits New Record, Raising Pressure on ECB
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The eurozone’s inflation rate jumped to another record high in March as Russia’s invasion of Ukraine pushed energy and food prices higher, increasing pressure on the European Central Bank to raise its key interest rate.
Russia accounts for around 40% of the European Union’s imports of natural gas, a key source of energy for the bloc. It also supplies around a quarter of the bloc’s oil imports. While supplies of oil and gas have continued to flow from Russia into Europe, market prices have risen, reflecting worries about future availability.
Read more on wsj.comAbout this in other media
Inflation hits 7% in March as Britain’s cost of living soars theguardian.com /2 years ago
Where Inflation Rose, Cooled the Most in March wsj.com /2 years ago
US Record-Holding Astronaut Scott Kelly Drops First-Ever NFT To Support Ukraine cryptonews.com /2 years ago
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