From a global pandemic to the Russian invasion of the Ukraine, inflation now looms over the global economy, driving up prices and putting further pressure on the cost of living. According to Eurostat, energy prices have seen the most extreem fluctuations in recent years. At the onset of the COVID-19 pandemic, energy prices took a dive, only to rise drastically as the world scrambles to find alternatives to Russian gas in 2022. Although they pale in comparison to the changes in enery prices, accommodation services, food and housing are all being hit similarly by inflation.
Hotel inflation rate is biting but paled in comparison to the rise of energy prices in Europe
Sponsored post by Booking.com
Description
This infographic shows the harmonized index of consumer prices (HICP) inflation rate in the EU by purpose deom 2018 to 2023.
