Inflation hits new record in Europe, slowing economy

[Google News Bot]

FRANKFURT, Germany (AP) -- Inflation hit a new record in the 19 countries that use the euro currency, fueled by out-of-control prices for natural gas and electricity due to Russia's war in Ukraine. Economic growth also slowed ahead of what economists fear is a looming recession, largely as a result of those higher prices sapping Europeans' ability to spend. Read More ...

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[Shaffy]

Hopefully this economic downturn ends soon by the peaceful resolution of the war, because after a recession comes a depression and people are already suffering enough.

 

[Billy]

Inflation has been at record levels in Europe and the United States, which means that everything from food to rent is getting more expensive. This has a direct impact on the economy because it makes it harder for people to afford what they need, so they stop buying things. If people stop buying things, businesses can't sell as much product or services and are forced to close their doors. As these businesses close down, people lose their jobs and go without income.

It also impacts our personal finances by forcing us to spend more money than we had planned on certain things like healthcare or education. This can cause us to take on debt or cut back on other purchases, such as vacations or entertainment expenses, just so we can afford the necessities (like food).

 

[glitch]

I am pretty sure inflation has hit record highs everywhere in the world at this point. I think we need to work on lowering these by finding commonsense solutions instead of printing money or demanding people pay more.

 

[Kvngsammy]

The inflation rates worldwide is becoming alarming and one begins to wonder what the cause might be because when we should have experienced this was during the pandemic and after but it doesn't seem so.

 

[Jonaville1]

Hopefully this economic downturn ends soon by the peaceful resolution of the war, because after a recession comes a depression and people are already suffering enough.

The inflation is affecting every country in every part of the world and that is why a lot of people cannot meet up to their daily needs any longer like they used to do before