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Eurozone Inflation Rate Rises to 10.7% as Recession Looms
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The annual rate of consumer-price inflation in the eurozone increased to double digits in October, reaching a record and highlighting the challenges facing the European Central Bank after it signaled a coming slowdown in the pace of its rate increases.
The broad measure of consumer prices has risen sharply since Russia’s invasion of Ukraine and Moscow’s decision to throttle natural gas supplies to Europe to undermine Western support for Kyiv. By mid-September, Russia had cut its supplies by 80% of their year-earlier total.
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