High European inflation symptom of deeper economic shift: economist

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High European inflation symptom of deeper economic shift: economist

STORY: High European inflation symptom of deeper economic shift: economist DATELINE: Dec. 7, 2022 LENGTH: 00:02:36 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE 1 (English): Carlo Altomonte, Professor of political economics at Bocconi University in Milan 2. various of the factory 3. various of supermarket 4. various of good in shop STORYLINE: An Italian economist has said that record rates of inflation that have hit European Union (EU) member states this year are a symptom of a wider economic paradigm shift. Inflation in the 19-nation eurozone was 10 percent in November, following a record-high of 10.6 percent the month before, and the highest year-on-year price increases since the creation of the euro currency have all taken place in the last nine months. Carlo Altomonte, professor of political economics at Bocconi University in Milan, said the record price increases are part of a broad economic shift for European countries. This shift is even more extreme than that of the 2008-2009 fina

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