Inflation woes in euro area leave little room for ECB to eliminate economic dilemma

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Inflation woes in euro area leave little room for ECB to eliminate economic dilemma

STORY: Inflation woes in euro area leave little room for ECB to eliminate economic dilemma DATELINE: Sept. 19, 2022 LENGTH: 00:01:10 LOCATION: FRANKFURT, Germany CATEGORY: ECONOMY SHOTLIST: 1. various of the European Central Bank (ECB) 2. various of the views in Europe STORYLINE: Inflation in the euro area has been hovering at alarmingly high levels for a lengthened period of time, attributed mainly to price spikes in energy and food. The European Central Bank (ECB) which is mandated to keep the price stable in the euro area raised interest rates more aggressively to rein in the rampant inflation at the risk of plunging the European economy into recession. According to the statistical office of the EU, inflation in the euro area hit a new record high of 9.1 percent in August. Inflation weighs on wages in the euro area and has led to the reduced purchasing power of households. The European Central Bank gave the clearest indication that it won't compromise in its fight against inflation in early Septemb

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