German Finance Minister Says High Energy Prices Major Concern for European Citizens
© FRED TANNEAUA driver fills his car tank at a petrol station in Ploneis, western France, on January 18, 2022, as oil prices are at their highest since 2014.
© FRED TANNEAU
MOSCOW (Sputnik) - The inflation in the eurozone is spurred by growing energy prices, which is a key concern for European citizens requiring due attention, German Finance Minister Christian Lindner said on Tuesday.
In January, the EU Statistics Office revealed data showing that annual inflation in the eurozone was 5% in December 2021, its highest level in over a decade, with the prices soaring mainly in Lithuania by 10.7% and Estonia by 12%.
"Rising energy prices are a driver of inflation in the Euro area and the EU as a whole. We are aware of the problem, it’s a great concern, the major concern of our citizens, and so we have to find solutions to that," Lindner said following a meeting of the Economic and Financial Affairs Council in Brussels.
Energy prices started surging in Europe in the second half of 2021 as global demand rose and outpaced supply amid economic recovery from months of COVID-19 lockdowns.