Double-digit inflation in Europe – Bitcoin remains at 21 million units

An uncontrollable rise in prices? – Whether Christine Lagardepresident of the European Central Bank (ECB), considers that “Inflation came out of nowhere”, the latter is indeed there in Europe. New Eurostat estimates on November 17, 2022 confirm inflation at two digits who settle in the euro zone.

Inflation confirmed at 10.6% in the euro zone

After a first estimate at the beginning of the month which gave an average of 10.7% inflation in the whole of the eurozone, new figures have just fallen. According to Eurostat estimates reported in particular by Le Figaro, inflation would be 10.6% rolling year (figures for the month of October).

The previous month, the rise in prices was still given (very) slightly below the symbolic 10%, at 9.9% (for September). They are mainly food and energies which pull prices up the most even if, apart from these two items of expenditure, inflation remains all the same 6.4%.

It’s the highest level never seen by Eurostat since the start of its publication of the consumer price monitoring indicator, in January 1997. In the European Union as a whole, it is even worse, with 11.5% of inflation.

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The inflation target at 2% of the European Central Bank indeed seems very far away behind us now. To United States however, the situation is improving, or at least calming down a bit. The violent rate hikes of the Federal Reserve (Fed) hurt the markets, but seem to have started a slight decrease inflation in the USA – which still remains at 7.7%.

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