Record inflation hits EU countries as sanctions against Russia kick in ...

Record inflation hits EU countries as sanctions against Russia kick in

High inflation has hit the European Union as energy prices skyrocket amid the Russia-Ukraine war. While stringent sanctions against Moscow are aimed at choking Russia's economy, the Euro area comprising countries such as Belgium, Germany, Greece, Spain, France, Italy, the Netherlands, Austria, Portugal and Finland, among others too are bracing for tough times ahead.

The issue of price rise and energy supplies will dominate the European Central Bank's Governing Council's meeting on monetary policy in Frankfurt on Thursday.

'Already struggling with rising living costs, Europeans now face an even deeper hit to their livelihoods as the conflict in Ukraine pushes fuel and food prices higher and threatens to undermine a fragile economic recovery,' a Reuters report said.


Crude oil, refined petroleum, wheat, gold and coal are among Russia's top exports items. About 40 per cent of Europe's energy needs are sourced from Russia.

 

It might get even worse if Vladimir Putin turns off the gas tap !!!

 

Inflation high in USA to. News says .08%, but it's higher than that. Gas has doubled, and we make monthly trip to warehouse market, and get about the same things every time. Some of the bulk meat products went from $20 to over $30.

 

it's crazy how that mad man is affecting the whole world.

 

it's crazy how much this is being felt all over the world... and this is actually still all to do with the Corona pandemic... that's not even counting the Ukraine crisis!? Crazy so let’s see how it develops in the future!!

 

The EU has been massively buying bonds from members since 2008(financial crisis).........to compensate for banks/big companies/economy /play nice/ect..........now they stopped.

For myself(nl).............i was/am amazed me how much my goverment keeps spending/compensating(financial crisis/ covid/ect).......and still is(national deth)



Crazy empty cardhouse(world of finance/economics), weirdly most of the world still follows it..........even Russia or China atm , kill eachothers economy(geopolitics).........kill your own?

Mzzls