May, 25

    Euro zone inflation: March 2022 ECB coverage

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    Christine Lagarde, President of the European Central Financial institution.

    Daniel Roland | Afp | Getty Pictures

    The price of dwelling hit one other report excessive within the euro zone final month, elevating additional questions on how the European Central Financial institution can stabilize such quickly rising client costs.

    Headline inflation got here in at 7.5% for March on an annual foundation, in accordance with preliminary information from Europe’s statistics workplace Eurostat launched on Friday.

    The numbers come at a time when Russia’s invasion of Ukraine has introduced renewed financial uncertainty, with some economists questioning whether or not the euro zone will enter a recession in 2022 — one thing that European officers have up to now refused to say.

    Italy’s Prime Minister Mario Draghi, for example, stated final week that there’ll financial injury from the invasion of Ukraine, however not a recession.

    The euro zone has taken unprecedented measures to punish Russia for its resolution to invade Ukraine — corresponding to blocking the sale of luxurious items — and these sanctions are having repercussions on the euro zone economic system itself.

    As well as, there are different side-effects from the warfare, most notably larger vitality costs — that are driving up inflation throughout the bloc.

    This can be a breaking information story and might be up to date shortly.

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