News / Spotlight

Eurozone Economic Woes

Friday, 29 July 2022 8:33 PM [ Last Update: Saturday, 30 July 2022 1:01 AM ]

Official figures show Eurozone inflation hitting an all-time high of 8.9% in July. European Central Bank has raised interest rates for first time in 11 years amid record high inflation.

Energy prices have surged by 39.7% in July due to gas supply concerns. Soaring gas prices continue to be main force behind inflation across Eurozone. Upward trend in gas prices has spilled over to other products, including fresh fruits and vegetables.

Press TV and panelists David Barkin, professor of economics at Metropolitan Autonomous University from Mexico City and Gilbert Doctorow, independent international affairs analyst from Brussels look at Eurozone economic woes.

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