Eurozone Inflation Hits Record High in March at 7.5% as Energy and Food Prices Soar

Eurozone inflation in March rose to a fresh record high at 7.5% as cost of living gets pricier due to a rise in energy and food prices on the back of the Russian invasion of Ukraine.

In February, annual inflation was at 5.9%, which was already high compared to the 2% seen as guaranteeing price stability.


The new all-time high inflation rate will be a challenge to the European Central Bank to stabilize the hike without hurting economic growth in the region that is trying to recover from the coronavirus pandemic since 2020. 

Some economists are starting to speculate whether the eurozone will face a recession in 2022.