Eurozone inflation hits record 8.1% amid rising energy costs

By KELVIN CHAN
AP Business Writer

LONDON (AP) — Inflation in the 19 countries that use the euro currency hit a record 8.1% amid surging energy costs prompted in part by Russia’s war in Ukraine. The latest data from European Union statistics agency Eurostat on Tuesday showed that annual inflation in May surpassed the previous record of 7.4% reached in the previous two months. Energy prices jumped 39.2%, highlighting how the war and the accompanying global energy crunch are making life more expensive for the eurozone’s 343 million people. Inflation in the eurozone is now at its highest level since recordkeeping for the euro began in 1997. Food prices also rose 7.5%, while prices for goods were up 4.2% and the cost for services rose 3.5%.