BREAKING: Inflation in the European countries using the euro currency hit record 10%, signalling a looming winter recession for one of the globe's major economies as higher prices undermine consumers' spending power.
to combat inflation by keeping higher prices from being baked into people’s expectations for wages and prices, but can’t by itself lower energy prices.
Higher gas prices feed through into higher heating bills and higher electricity costs because natural gas is used to generate power, heat homes and run factories. Shoppers at a weekly outdoor market in Cologne, Germany, said higher food prices and utility bills were on their minds.
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