In September 2021, the inflation rate for the European Union was 3.4% and 3.6% for the euro zone. Today, eighteen EU member states report inflation above 10%.
The highest current unemployment rates in the EU are found in Spain (12.4%) and Greece (12.2%); among the lowest are Hungary (3.5%) and the Netherlands (3.8%).
This essay may not be a plug-and-play survival guide to inflation, but it should help to explain where you can go and what information you can find, in order to educate yourself on inflation, specifically energy costs.
Government officials have carefully ignored the need for more fiscal conservatism. Looking at the threat of a new debt crisis, investors and taxpayers alike expect nothing more spectacular from their current leaders than a new round of put-out-the-fire austerity packages.
Bloomberg suggests that consumers “sitting on 700 billion-euro ($753 billion) cash” is reason enough to predict macroeconomic resiliency in Europe, but this report is contradicted by findings by Eurostat on retail trade in the euro area and the EU as a whole.
A new debt crisis looks unavoidable. There is practically no interest in fiscal reforms across Europe, leaving the continent vulnerable to a destructive downward spiral of rising interest rates and structural budget deficits.
