Inflation in the euro area in May hit its highest annual level since the creation of the euro currency in 1999, Europe’s statistics agency reported on Tuesday, as a record run-up in energy and food prices stoked by Russia’s war in Ukraine continued to ricochet through the continent’s economy, raising the specter of a lapse into recession.

Annual inflation in the 19 countries that use the euro currency jumped to a record 8.1 percent in May, from 7.4 percent in April. Prices have been rising for 10 consecutive months and show few signs of letting up, deepening a cost-of-living crisis for consumers and forcing European policymakers to pledge a variety of measures to blunt the pain. In the United States, consumer price inflation has reached 8.3 percent, data from April showed, a slight moderation from previous months.


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