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Eurozone inflation hits record high of 7.5% as energy prices soar
Inflation hit another record high in the Eurozone last month, raising more questions about how the ECB can stabilize rapidly rising consumer prices.
Headline inflation came in at 7.5% for the month of March on an annual basis, according to preliminary data from the European Statistical Office.
The figures come at a time when the Russia-Ukraine war has led to renewed economic uncertainty, with some economists questioning whether the eurozone will enter a recession in 2022, something European officials have so far refused to say.
For example, Italian Prime Minister Mario Draghi said last week that there would be economic damage from the Ukraine-Russia war, but no recession.
For its part, the European Central said previously that eurozone growth could be as low as 2.3% in 2022.
