Highlights

  • Energy costs up 39% in April as oil prices surge
  • ECB expected to hike rates in July and is lagging the Fed in the rate cycle.

Latest news

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EU inflation hits record high, fuel inflation up 39.2%

Inflation came in at 8.1% up from April’s record high of 7.4%

Euro zone inflation hits yet another record high as food and energy prices soar. Euro-zone inflation accelerated to 8.1%, the surge comes in from energy prices which rose 39.2% in April due to the Russia Ukraine war.

Energy prices jumped jumped by 39.2% as a result of a global energy crunch caused by the war.

Food prices soared by 7.5%, while prices for other goods — such as clothing, appliances, cars, computers and books — were up 4.2% and the cost for services rose 3.5%.

Germany's inflation rate reached 7.9% in May, according to data published on Monday by the German statistical agency Destatis.

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