European Economy , Faces Stagflation.<br />CNN reports Europe's economy came to a crawl in the first three months of 2022.<br />Inflation continues to soar and the effects of <br />the war in Ukraine are beginning to take hold.<br />Preliminary data shows Europe's GDP <br />grew merely 0.2% in the first quarter.<br />Meanwhile, in April, consumer price <br />inflation skyrocketed by 7.5%.<br />The continent is experiencing its highest jump in prices for basic goods since the European Union began tracking such records 25 years ago.<br />Russia’s brutal war against Ukraine has driven up prices for energy and foodstuffs, disrupted supply chains and dealt a serious blow to consumer confidence. , Statement from economists at Berenberg, via CNN.<br />As the most exposed <br />major region globally, the eurozone has fallen into stagflation as a result. , Statement from economists at Berenberg, via CNN.<br />Germany, Europe's largest economy, reported growth of 0.2%, though the pace was likely slowed by Russia's invasion of Ukraine.<br />The economic consequences <br />of the war in Ukraine have had <br />a growing impact on the short-<br />term economic development <br />since late February. , Statement from the German statistics office, via CNN.<br />Experts say much of Europe <br />now faces stagflation, .<br />a frightening combination of high inflation <br />and weak economic growth.<br />France, the continent's second-largest economy completely stalled in <br />the first quarter of 2022.<br />Per CNN, Italy has fared even worse, as its economy has shrunk by 0.2% so far this year.<br />Per CNN, Italy has fared even worse, as its economy has shrunk by 0.2% so far this year
