Rising prices in Germany reached a maximum for almost three decades. According to Bloomberg, inflation in the main economy of Europe has increased to 4.1 percent in September, exceeding the average estimate of economists.
The main reason for the increase in prices is the energy crisis. The cost of electricity in Europe has reached historical maxima against the background of reduced gas supplies from Russia and Norway, as well as growing due to the restoration of demand economics. The record increase in prices for consumer goods is caused by interruptions in supplies as a result of local locked, due to which the cost of transportation took off.
Other European economies also encountered the maximum level of inflation for ten years. So, for example, the figure of France amounted to 2.7 percent. Inflation in Italy has grown by four percent. These results are much higher than the target rate of two percent established by the European Central Bank (ECB) to achieve stability in the Eurozone.
According to economists estimates, the rise in prices in the European Union (EU) will accelerate to 3.3 percent in September, which will be the maximum for 13 years. Politicians insist that the surge of inflation is temporary, so the ECB is in no hurry to raise the key bid.
Nevertheless, in early September, the ECB still reduced the monetary stimulation of the economy: the monthly purchase of bonds was cut off from 80 billion euros to 70 billion euros. On the decision to reduce the infusion of funds to the markets influenced including record inflation. Fully abandon the measures to support the economy adopted in Pandemic, the ECB plans in March 2022.
The price of gas in Europe has set a record, reaching September 30 at $ 1098 per thousand cubic meters. Growth compared to the closure level of the previous trading session amounted to 2.9 percent.