OREANDA-NEWS Annual inflation in 19 countries in the euro area, according to preliminary data, accelerated to an all-time record 8.6% in June 2022. The data were published by the Eurostat press service on its website, according to Gazeta.ru.

A month earlier the figure was 8.1%, in April - 7.4%. Analysts polled by DailyFX expected an acceleration of price growth to only 8.4%.

Inflation in the euro zone is rising because of rising energy and food prices. Some experts point out that inflation is actively stimulated by multi-billion-dollar subsidies allocated by the European Union and the European Commission in the fight against the pandemic COVID-19 from 2020. Measures to promote green energy are also having an impact. In addition, increased military expenditures due to the conflict in Ukraine contribute to the price increase.

On the eve of the American Farm Bureau Federation reported that the cost of the traditional outdoor party on the U.S. Independence Day on July 4 will cost residents 17% more this year on average than in 2021.