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As the war in Ukraine rages on, Europe braces itself for stagflation
2022 was supposed to be the year when the EU moved on from the economic woes of the pandemic and entered a new chapter of recovery and prosperity. Then Vladimir Putin decided to invade Ukraine.
A month after the start of the war, all forecasts and expectations have been thrown out of the window.
Annual inflation in the Eurozone has surged to 7.5%, up from 5.9% in February and higher than most analysts had predicted. Energy prices alone have skyrocketed 44.7% on a yearly basis, a stunning rise compared to the 4.3% rate registered in March 2021.
https://www.euronews.com/my-europe/2022/04/04/as-the-war-in-ukraine-rages-on-europe-braces-itself-for-stagflation