Numbers of the Year 2022
More or Less: Behind the Stats
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The Highest Inflation Rate in 40 Years in Europe
Russia is a huge producer of gas and as supplies to Europe have fallen, the price of buying gas on the open market has soared. The starting point of the high inflation rate is if we're in Europe to look at what's happened to the wholesale gas price. And that in August peaked at 339 euros per megawatt hour. So it's really not surprising that when this gas price, the wholesale price, has got into consumer inflation.
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