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Eurozone facing nasty bout of stagflation

by Press room

Eurozone facing nasty bout of stagflation as economy slows and prices soar

The eurozone is facing a nasty bout of stagflation as the economy slows and prices soar. 

Official figures showed that output across the single currency bloc rose just 0.2 per cent in the first quarter, as inflation hit a record high of 7.5 per cent. 

Nasty: Official figures showed that output across the single currency bloc rose just 0.2 per cent in the first quarter, as inflation hit a record high of 7.5 per cent

Charlotte de Montpellier, senior economist at ING, said: ‘The risk of stagflation is becoming more concrete every day.’ 

Output fell by 0.2 per cent in Italy – bringing the country to the brink of recession – while France stagnated. 

With the US economy contracting in the first quarter and inflation there at a 40-year high, Neil Wilson, the chief market analyst at Markets, said: ‘Stagflation is here for real.’

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