Today: Tuesday, 16 August 2022 year

Professor Zinna from Germany called the ECB responsible for high inflation in Europe

Professor Zinna from Germany called the ECB responsible for high inflation in Europe

Hans-Werner Zinna, former head of Ifo Munich Institute for Economic Research, called the European Central Bank (ECB) responsible for high inflation in Europe

According to the expert, the current level of inflation is already quite high, but the situation is still worsening: in Germany, producer prices increased by 33.6 percent, in Spain and Italy – by more than 40 percent. Consumer prices, in turn, are growing by at least a third of the indicated values.

“No bright prospects for the future,” Zinna concluded.


Earlier it was reported that in June inflation in the euro area at the annual level broke another record, reaching 8.6 percent. The main contribution is made by the increase in the cost of energy (41.9 percent compared to 39.1 percent in May), as well as food, alcohol and tobacco products (8.9 percent compared to 7.5 percent in May). Industrial goods (4.3 percent) and services (3.4 percent) become less expensive, the statistical office reported.