It is noted that the highest inflation rate in Europe is observed in Turkey at 70 percent due to the collapse of the lira.
The largest increase in consumer prices in the EU is observed in the Baltic countries and Eastern Europe due to their energy dependence on Russia, the Financial Times newspaper writes.
Thus, Estonia suffers the most, where consumer prices rose by almost 19 percent over the year. In Lithuania, this figure reached 16.8 percent, in Bulgaria – 14.4 percent, in the Czech Republic – 14.2 percent, in Romania – 13.8 percent, in Latvia – 13 percent, in Poland – 12.4 percent.
The economies of the member states of the European Union may face a combination of recession and record inflation against the backdrop of the crisis in Ukraine, the German publication Deutsche Wirtschafts Nachrichten wrote earlier. The publication notes that in the European Union, you can already see a noticeable increase in consumer prices, which exceeds last year’s figure by 7.5%.
The day before, the Minister of Foreign Affairs and Foreign Economic Relations of Hungary, Peter Szijjarto, said that the economy of the republic would be destroyed without Russian oil supplies.
Recall that Russian President Vladimir Putin signed a decree providing for the supply of gas to unfriendly states (including all EU countries) only for rubles. In turn, the G7 member countries and the EU urged local companies not to accept ruble invoices for relevant deliveries.
