Annual inflation in Europe hits record with 9.1%

Euro zone inflation increased for the ninth consecutive month as of August, and inflation rose to 9.1 percent. Official numbers were 8.9 percent in July. eurozone; It consists of 19 countries such as Germany, France and Belgium.

On the other hand, the European Union (EU) is facing a major energy and gas crisis mainly due to the ongoing Ukraine crisis. Current prices for daily necessities such as food, gas and electricity have also skyrocketed across the continent.

Annual inflation in Europe hits record with 9.1%

Energy prices, which recorded the highest increase during the past month, have increased by 38.3 percent since the beginning of the year. Food, alcohol and tobacco items rose more than 10 percent year-on-year.

In the United Kingdom, a former EU member, inflation reached 10.1%, the highest level in the last 40 years. reached.

In member countries such as Estonia and the Netherlands, inflation increased by 2 percent compared to last month.

Florian Glatz, Co-Founder of the German Blockchain Association and member of the EU Crypto Initiative, told Cointelegraph:

“Europe is facing historical challenges, inflation is undermining the economic security of the middle and lower pillars.”

Crypto owners, on the other hand, see their holdings as a hedge against inflation. On the other hand, for the mass prevalence and sufficient application areas of the crypto community to perform this function. it needs to work.

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