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Eurozone Inflation Climbs to Fresh High as Russian Invasion Confronts ECB With Dilemma
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wsj.comThe eurozone’s inflation rate jumped to a new high in February, presenting the European Central Bank with a difficult choice between supporting flagging growth and clamping down on accelerating prices driven by the threat to energy supplies following Russia’s invasion of Ukraine.
Russia accounts for around 40% of the European Union’s imports of natural gas, a key source of energy for the bloc. It also supplies around a quarter of the bloc’s oil imports. While supplies of oil and gas have continued to flow from Russia into Europe, market prices have jumped to reflect worries about future availability.
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