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Eurozone inflation hits record 8.6% in June ahead of ECB's rate hike
Updated: 2022-07-02 09:31:40 KST
Inflation in countries using the euro has hit another record high. According to 'Eurostat' - consumer prices surged 8.6 percent last month. Inflation is now at its highest level since 1997, when relevant records were first compiled. This comes as the European Central Bank prepares for its first rate hike in 11 years. The trend is mainly driven by soaring energy prices led by the prolonged war in Ukraine. Energy prices spiked almost 42-percent on-year.
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