Inflation in EU countries hits 8.1% in May, highest since 1997

Inflation in 19 European Union countries hit an all-time high of 8.1% in May, authorities said. Inflation, which is at its highest level since 1997, was driven by a rise in food and energy prices after Russia's invasion of Ukraine sent commodity prices soaring. Core inflation, which excludes volatile components like food, energy and alcohol, rose to 3.8% in May.