Inflation across the eurozone hit 10%, the highest inflation rate since records began in 1997
Consumer prices in the currency area are now rising at a much faster pace than in the U.S., with the ECB set for a series of interest rate rises
How have China, Mexico and Greece handled inflation, and where does the U.S. fit in? WSJ’s Dion Rabouin explains.The eurozone’s annual rate of inflation hit double digits in September as uncertainty about the currency area’s ability to make it through the winter without power cuts continued to keep energy prices elevated.
The acceleration in the rate at which consumer prices are rising is likely to prompt the European Central Bank to raise its key interest rate again next month and will lead to further falls in household spending power that threaten to push the currency area’s economy into contraction.
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