{"id":302,"date":"2022-10-19T19:16:39","date_gmt":"2022-10-19T19:16:39","guid":{"rendered":"https:\/\/live-script.xyz\/euro-area-annual-inflation-jumps-to-9-9-in-september-cost-of-bread-skyrockets-protests-erupt\/"},"modified":"2022-10-19T19:16:39","modified_gmt":"2022-10-19T19:16:39","slug":"euro-area-annual-inflation-jumps-to-9-9-in-september-cost-of-bread-skyrockets-protests-erupt","status":"publish","type":"post","link":"https:\/\/live-script.xyz\/euro-area-annual-inflation-jumps-to-9-9-in-september-cost-of-bread-skyrockets-protests-erupt\/","title":{"rendered":"Euro Area Annual Inflation Jumps to 9.9% in September, Cost of Bread Skyrockets, Protests Erupt"},"content":{"rendered":"

According to the European Union\u2019s statistics office Eurostat on Wednesday, Euro area annual inflation is up to 9.9% in September, up from 9.1% in August. The inflation rate in September tapped a 40-year high, and investors suspect that the eurozone is \u201cat risk of a financial meltdown.\u201d<\/strong><\/p>\n

European Union\u2019s Consumer Price Index Taps a 40-Year High, EU Residents Take to the Streets to Protest Scorching Inflation<\/h2>\n

Europe\u2019s inflation has jumped a great deal since September 2021, according to the recent report<\/a> published by Eurostat on Wednesday morning. \u201cThe euro area annual inflation rate was 9.9% in September 2022, up from 9.1% in August,\u201d Eurostat\u2019s September consumer price index (CPI) update notes. \u201cA year earlier, the rate was 3.4%. European Union annual inflation was 10.9% in September 2022, up from 10.1% in August. A year earlier, the rate was 3.6%,\u201d the government agency\u2019s report details.<\/p>\n

The announcement from Eurostat follows the recent inflation report<\/a> published six days ago by the U.S. Bureau of Labor Statistics on October 13. Inflation in the United States for the month of September was an 8.2% rise in the year through September. The eurozone\u2019s CPI follows the region\u2019s fiat currency the euro struggling to compete<\/a> with the U.S. dollar. A recent report<\/a> published by Citi\u2019s FX strategists says that the group of foreign exchange analysts suggest the euro could sink to $0.86 against the greenback if macro turmoil persists.<\/p>\n

Reports<\/a> indicate that the cost of bread is skyrocketing in Europe as the elevated cost of electricity, eggs, and flour has pushed bakers to increase bread prices across the board. The New York Times details that 1 in 10 Belgian bakeries have shut down shop over the rising inflation levels eating away at their businesses. Some accounts<\/a> say that the inflation has been so bad that residents in Paris have taken to the streets by the thousands to criticize the rising prices.<\/p>\n

The economist from the Vienna Institute for International Economic Studies, Philipp Heimberger, notes that while inflation is wreaking havoc globally, Europe is facing the worst of it. \u201cAcross the globe, inflation is primarily driven by energy prices and (energy-intensive) food prices in the context of supply chain issues,\u201d Heimberger tweeted<\/a> on Wednesday. Heimberger further added:<\/p>\n

The impact of supply factors in Europe is particularly strong.<\/p>\n

Some observers have blamed the United States<\/a> for allegedly being involved with the Nord Stream sabotage<\/a>, which has caused Europe\u2019s energy inflation to rise even higher. Reports further note that in addition to Paris, France, protestors have reportedly gathered in Germany<\/a>, Austria, and Greece<\/a> as well, to protest the red-hot inflation levels scouring the eurozone.<\/p>\n

\n<\/p>

Inflation in Germany, for example, has reached a massive harmonized rate at 10.9%, tapping a 25-year high<\/a> in the country. The eurozone\u2019s inflation is so bad today, that global firms located in the region are starting to relocate<\/a> \u201ceastward in Europe in search of cost savings.\u201d On the first of October, the Telegraph reported<\/a> that market analysts believe the eurozone is at \u201crisk of [a] financial meltdown\u201d due to \u201csurging inflation and higher rates.\u201d<\/p>\n

What do you think about the eurozone\u2019s red-hot inflation rising in September? Let us know your thoughts on this subject in the comments section below. <\/strong><\/em><\/p>","protected":false},"excerpt":{"rendered":"

According to the European Union\u2019s statistics office Eurostat on Wednesday, Euro area annual inflation is up to 9.9% in September, up from 9.1% in August. The inflation rate in September tapped a 40-year high, and investors suspect that the eurozone is \u201cat risk of a financial meltdown.\u201d European Union\u2019s Consumer Price Index Taps a 40-Year […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\nEuro Area Annual Inflation Jumps to 9.9% in September, Cost of Bread Skyrockets, Protests Erupt - Latest Cryptocurrency & blockchain News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/live-script.xyz\/euro-area-annual-inflation-jumps-to-9-9-in-september-cost-of-bread-skyrockets-protests-erupt\/\" \/>\n<meta property=\"og:locale\" content=\"ko_KR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Euro Area Annual Inflation Jumps to 9.9% in September, Cost of Bread Skyrockets, Protests Erupt - Latest Cryptocurrency & blockchain News\" \/>\n<meta property=\"og:description\" content=\"According to the European Union\u2019s statistics office Eurostat on Wednesday, Euro area annual inflation is up to 9.9% in September, up from 9.1% in August. 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