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Inflation in the 19 countries that use the euro marked a record 8.1 percent on Tuesday, as a result of rising energy prices, caused in part by Russia’s war in Ukraine.
The latest data published by the European Union statistics agency “Eurostat” showed that annual inflation in May exceeded the previous record of 7.4 percent reached in the previous two months.
Energy prices rose 39.2%, highlighting how war and the global energy crisis are making living more expensive for the eurozone’s 343 million people.
Inflation in the euro area is now at its highest level since the beginning of record keeping for the euro in 1997.
Food prices also rose by 7.5%, while commodity prices rose by 4.2% and the cost of services increased by 3.5%.
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