Inflation in the EU rises to a record height, with the Czech Republic experiencing the third highest rise among the 27 member states

Published: 24.05.2022 Related countries:  United Kingdom United Kingdom

The inflation rate in the European Union surged three-tenths of a percentage point higher than in March to 8,1 %. The Czech Republic has the third-highest inflation rate with 13.2 percent in April

Current inflation reflected strong and widespread inflationary pressures from both the domestic and external economies, which were further amplified by additional price shocks related to the war in Ukraine and sanctions against Russia, in commodity prices as in the supply of goods. These and other influences are further pushing up inflation.

The world was taken by surprise by the autumn energy crisis, as well as by the outbreak of war. These are, by their nature, negative supply shocks that added fuel to the inflationary fire that was lit during the covid and post-covid economic rally. The confluence of these unprecedented influences is challenging for the economy.

Source: CIA News and