Euro zone inflation jumped to another record high and will soon hit double-digit territory, heralding a string of big interest rate hikes even as a painful recession appears increasingly certain. Driven by expensive gas and a devastating drought, consumer prices jumped more than expected in August and further rises are already in the pipeline, suggesting more pain for households and businesses as they burn through their cash reserves. As Europe remains powerless to stave off mounting economic crises on multiple fronts, FRANCE 24 is joined by Anna Creti, Professor of Economics, and Director of the Climate Economics Chair and the Economics of Gas Chair at Paris Dauphine University. Ms. Creti says that the current energy crisis is quite complex, amid war and climate change, and it could worsen as we head into winter. She warns that "we cannot really say that we have a unique cause and therefore a unique remedy."
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