U.K. Inflation Tops 10%, Underlining Gloomy Outlook for Europe

UK annual inflation rose into double digits in July and is expected to climb even higher by the end of the year, putting pressure on strained household budgets and threatening a protracted economic contraction.

This rise in inflation has been replicated in other parts of Europe, even as consumer prices in the US began to fall. That’s because energy prices have continued to rise across Europe as Russia holds back natural gas supplies and the continent faces a potential crisis this winter.

https://www.wsj.com/articles/u-k-inflation-tops-10-underlining-gloomy-outlook-for-europe-11660718161 U.K. Inflation Tops 10%, Underlining Gloomy Outlook for Europe

Alley Einstein

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