Eurozone inflation hits a record high of 4.9 percent. [The New York Times]
ING Group, N.V. (ING)
US:NYSE Investor Relations:
ing.com/investor-relations.htm
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Source: The New York Times
Inflation soared to a record high in Europe in November as a continued upward climb in energy costs pushed prices skyward, data showed on Tuesday.Annual inflation in the eurozonesurged to 4.9 percentPrices for goods and services have been climbing steadily since summer as a reopening of the global economy from coronavirus lockdowns juiced economic activity, sending energy costs up and crimping global supply chains.Energy costs jumped 27.4 percent in November from a year ago, continuing an upward trend.“We haven’t seen inflation this high since the eighties,” Bert Colijn, senior economist for the eurozone at ING Bank, said in a note to clients. “The energy shock of is starting to have a substantial impact on consumers,” he added.The inflation gains have driven up costs for a range of products and services, and have led workers and unions to demand higher wages in many European countries.Germany, Europe’s largest economy, reported that inflation accelerated to 6 percent from a year ago
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