European Inflation Skyrockets to Record 7.5%– ECB Chief Lagarde Expects Energy Prices to ‘Stay Higher for Longer’– Economics Bitcoin News

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While inflation continues to holler in the U.S., the inflation rate in the eurozone tapped another high last month reaching 7.5% inMarch Energy and food rates have actually skyrocketed throughout the 19 member state economies, andEuropean Central Bank president Christine Lagarde anticipates energy rates to “stay higher for longer.”

Eurozone Inflation Continues to Climb, ECB Predicted to Raise Rates 3 Times This Year

The 19 nations sharing the euro are struggling with increasing inflation according to figures coming from March that reveals the inflation rate increased to 7.5% Similar to the U.S. Federal Reserve, the European Central Bank’s (ECB) inflation target is 2% and inflation in food rates, services, energy, and long lasting items has actually increased well above the target.

Speaking to an audience in Cyprus on Wednesday, ECB president Christine Lagarde

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