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‘I can’t see the light’: War fuels surging prices in Europe

yonkershonda.com / CC BY-SA 2.0

By COLLEEN BARRY
AP Business Writer

MILAN (AP) — Russia’s war in Ukraine has accelerated inflation across Europe, with prices for energy, materials and food surging at rates not seen for decades. It’s causing sticker shock at the grocery store, gas pumps, electricity bills and construction sites. Inflation is expected to hit nearly 7% this year in the 27-nation EU and is contributing to slowing growth forecasts. Fishmongers and farmers are being forced to charge prices for their catch and crops that even they see as astronomical. High fuel prices threaten to paralyze ground transport of goods, and bread prices are soaring from Poland to Belgium.

Associated Press

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