Negative macroeconomic statistics from Europe | 19 Agosto 2022

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Euro zone inflation reached a new record high of 8.9% year-on-year in July, the EU's statistics office confirmed. The European Union's statistics office Eurostat said consumer prices in the 19 countries using the euro rose 0.1% month-on-month in July for an 8.9% year-on-year increase, the highest since the euro was created in 1999. Eurostat said that of the total, 4.02 percentage points came from more expensive energy. But even when these most volatile components are excluded, in what the European Central Bank calls core inflation and watches closely in interest rate decisions, prices still were 5.1% year-on-year higher in July. The ECB's headline inflation target is 2.0%

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