Consumer prices in the eurozone rose last September at the fastest pace since 2008, in light of a noticeable rise in energy prices, especially gas, according to official data published today.
According to data from the European Statistics Agency “Eurostat”, inflation in the euro area reached 3.4% on an annual basis, while energy prices increased by 17.4%.
The cost increase was well above the 2% target set by the European Central Bank and will increase pressure on EU governments to take action to reduce the burden of energy costs.
Today, gas prices in Europe have reached historic levels, touching the level of $1,200 per thousand cubic meters. The rise comes in light of the decline in gas stocks in ground storage and the increase in demand coinciding with the approach of winter.
Source: RT + AFP