In Europe, prices are rising to historical levels, fueled by the war in Ukraine and the corona restrictions in China.

In the euro zone, the inflation rate has again risen to a record level. Consumer prices rose in June by 8.6 percent year-on-year, according to an initial estimate from the statistics office Eurostat in Luxembourg on Friday.

Economists had expected an average rate of 8.5 percent. In the previous month, the price increase was 8.1 percent.

The inflation rate in the euro area has never been so high since the introduction of the common currency as book money in 1999. Inflation has increased continuously since the summer of 2021, with record levels recently being reached. The war in Ukraine and the tough corona measures in China exacerbated the upward trend in prices.

On a monthly basis, consumer prices in the countries with the common currency rose by 0.8 percent in June. An increase of 0.7 percent had been expected here.