Articles of Economic Crisis

Euro zone inflation again exceeded expectations this month and hit a new record high, pointing to further interest rate hikes by the European Central Bank. Consumer price growth in the 19 countries that share the European currency accelerated to 10.7% in October from 9.9% the previous month, Eurostat data showed on Monday. This increase would be driven by an astronomical 41.9% growth in energy costs, compared to last year, according to the EU statistical office.