European countries continue to post record-high inflation rates

Economy
Wed, 12 Oct 2022 8:33 GMT
Energy, food drive up prices across eurozone, with Denmark's inflation at double digits for 1st time since 1982.
European countries continue to post record-high inflation rates

Amid the ongoing energy crisis related to the Russia-Ukraine war, European countries continue to post record-high inflation rates.

On Tuesday, the Czech Republic released an annual inflation rate of 18% for September, an all-time high.

The country's statistical authority said the surge in inflation stemmed from energy and fuel prices almost 50% higher year-on-year last month.

In Denmark, the annual inflation rate hit double digits in September for the first time since 1982, according to official figures released on Monday.

In August, the country's inflation rate was at 8.9%.

Annual inflation in Greece was at 12% last month, hitting its highest level since 1993, figures from the country showed on Monday.

Data from Latvia indicated on Monday that annual inflation was at 22.2% in September, another record-high level.

On Tuesday, Hungary also released inflation figures for that month, showing an annual record rate of 20.1%.

Year-on-year in September, energy prices went up 62.1% in Hungary, while food inflation was at 35.2%.

Inflation in the euro area has also hit double digits and a fresh record in September with 10%.

Energy prices, up 40.8%, were the biggest driver of inflation in September in the eurozone.

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