The great gasflation: record high gas and electricity prices are fuelling inflation across Europe, putting at risk economic recovery.
The Eurozone’s consumer price inflation hit a record of 5% -its highest level since the ECB started tracking in 1997.
This is largely driven by the strong increase in gas and electricity expenses of households, exploding by 10%.
The effect of record wholesale gas and electricity prices is likely to linger through the most of 2022, due to the usual time lag in residential pricing.
What is your view? What will be the economic impact of the great gasflation? The last time we had such high inflation, it ended pretty bad…
Source: Greg Molnar (LinkedIn)