Energy prices push eurozone inflation to record 5.8 pct in February: Eurostat

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Energy prices push eurozone inflation to record 5.8 pct in February: Eurostat

STORY: Energy prices push eurozone inflation to record 5.8 pct in February: Eurostat DATELINE: March 4, 2022 LENGTH: 00:02:00 LOCATION: Brussels CATEGORY: ECONOMY SHOTLIST: 1. various of EU Commission STORYLINE: The eurozone's annual rate of inflation would reach 5.8 percent in February 2022 driven by the high costs of energy, according to a flash estimate published by Eurostat, the statistical office of the European Union (EU), on Wednesday. Eurozone countries witnessing high inflation include Germany with 5.5 percent, Spain with 7.5 percent, France with 4.1 percent and Italy with 6.2 percent. Across the eurozone, inflation has gradually increased since the introduction of COVID-19-induced lockdowns in 2020. It sped up spectacularly in January 2021 and has increased steadily ever since. The main driver of inflation is the price of energy, which has spiked due to the COVID-19 pandemic and most recently because of the Russia-Ukraine conflict. Energy prices were expected to increase by a

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