Tuesday , October 19 2021

Massive price increases have affected all of Europe and are expected to worsen in the autumn



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The increase in advance payments for electricity, for example, will soon surprise many Europeans. In fact, energy prices had the strongest impact on consumer prices across the European Union in August.

However, it also added to the work industrial goods, fuels, services, alcohol and food, which caused the highest inflation in Europe in the last ten years. Within the Union, it has grown by 3.2 percent, in the euro area, statisticians reported a year-on-year jump of three percent.

The main reason for these figures is the post-pandemic situation, when the world economy is recovering strongly, pushing prices up. Moreover, all this in an environment in which central banks have accumulated an unprecedented amount of “new” money“, Explained the current development of the chief economist of Trinity Bank Lukáš Kovanda.

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