The figure shatters European indicators: 10% inflation in the eurozone over a year. This new record, fueled by the soaring cost of energy and food, has put European leaders under pressure, even as energy ministers have finally reached an agreement on emergency measures to assist households and businesses facing rising costs.
Bert Colijn, an analyst at ING, believes the figure is “horrible from every angle.”In any case, it exceeds the already gloomy forecasts of Bloomberg and Factset analysts, which stand at 9.7%.In August, inflation in the 19 countries that share the single European currency reached 9.1%, the highest level since the European Statistics Office began publishing the indicator in January 1997.
Hausse à deux chiffres.
This two-digit increase, a significant first, was announced as European energy ministers reached an agreement on emergency measures to assist households and businesses facing rising energy costs, but many believe that more action is required as winter approaches. They approved proposals presented by the European Commission in mid-September to recover a portion of energy producers’ “superprofits” and redistribute them to consumers, as well as impose a reduction in electricity demand during peak hours.
The slowness of European institutions in responding to the crisis’s urgency has compelled EU member states to intervene in the chaos. They are concerned about social movements such as the Yellow Vests and the thousands of job losses in the industry. The European Commission warned on Thursday that rising gas and electricity prices threaten the survival of thousands of businesses across Europe.Le chancelier Olaf Scholz annuncia jeudi ” un bouclier” pour plafonner les prix de l’énergie, doté de 200 milliards d’euros…
Paris a adopté, de son côté, des mesures de protection des consommateurs, avec notamment une baisse des tarifs des carburants en septembre, qui lui ont permis de conserver l’inflation la plus faible d’Europe, à 6,2%, selon les données harmonisées d’Eurostat. L’Allemagne is at 10,9%. The Baltic countries, which are particularly vulnerable to the consequences of the Ukrainian war, have the highest inflation.She received 24,2% in Estonia, 22,5% in Lithuania, and 224% in Latvia.
Since November 2021, the rise in consumer prices has reached a new historical high, owing to disruptions in supply chains and a drop in energy prices, which has been exacerbated by the consequences of Russia’s war in Ukraine. And there is still no light at the end of the tunnel.
Jessica Hinds, analyste de Capital Economics, estime que ” l’inflation va encore augmenter dans les mois à venir” parce que la hausse des salaires fait aussi monter le prix des services. Eurostat also announced on Friday a chômage rate that is the lowest in the eurozone, with 6.6% of the population working, implying that wage pressures will remain.
To combat the trend, the European Central Bank (ECB) raised its key interest rates by 0.75 percentage point in September, following a 0.50 percentage point increase announced in July. Christine Lagarde, présidente de la BCE, a annoncé lundi qu’elle reprendrait encore ses taux au cours des prochains mois.
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