Inflation in eurozone reaches a record high


July 29, Fineko/ Inflation in the eurozone has reached a new level in July.

ABC.AZ reports that this situation has led to the expectation of a sharp increase in interest rates from the European Central Bank.

According to preliminary estimates, annual inflation in 19 eurozone countries accelerated to 8.9% in July from 8.6% in June. Inflation in the eurozone has again updated the historical maximum.

Because of rising price pressures, the ECB raised interest rates by 50 points this month.

The record level of inflation also reinforced ECB’s expectations that it will continue to raise interest rates.