October 29 2021
Consumer prices across the 19 European Union countries that use the euro currency have spiked to the highest level in over 13 years on the back of soaring energy prices and pent-up demand during the pandemic recovery, official figures showed Friday.
Eurostat, the European Union’s statistics agency, said inflation across the bloc rose to 4.1% in the year through October, up from September’s equivalent rate of 3.4%. The increase was the highest since July 2008, when inflation was also 4.1%.
Inflation in the 19 countries, like elsewhere in the world, has been spiking in recent months as the global economy rebounds from the coronavirus pandemic. The recovery has not been normal, with businesses and consumers worldwide feeling the pinch of supply chain backups and labor shortages that have helped lead to rising prices on everything from food to
toys heading into the holiday shopping season.
But, but, but BIDEN.