China News Service, Beijing, June 23 (Zhang Naiyue) "Sometimes, I want to cry when I come out of the supermarket, and I feel like I can't buy anything." A German resident who was queuing for shopping complained, "In the past, I only sold Sausages that cost 99 cents may now cost more than 2 euros.”

People buy fruits and vegetables at a street market in Berlin, Germany, on April 1, 2022.

　　This scene will take place in June 2022.

Due to inflation and soaring energy prices, many countries in Europe and the United States have experienced a cost of living crisis, sparking protests and strikes, and the people are miserable.

　　When will the worst inflation in decades return to normal?

The Beginning of the Inflation Tsunami

　　Since 2022, affected by the new crown epidemic and the energy supply and supply chain crisis under the conflict between Russia and Ukraine, inflation in Europe and the United States has continued to rise.

Data map: Euro banknotes.

　　U.S. inflation hit 8.6 percent in May, the highest level in 40 years, data from the U.S. Labor Department showed.

U.S. President Joe Biden also recently warned that U.S. inflation could continue for "a period of time."

　　The sharp increase in interest rates by the Federal Reserve in response to inflation has not only increased the risk of recession in the United States, but also further damaged global production and supply, making inflation centered in the United States and spreading to the world.

　　Annual inflation across 19 European countries hit 8.1% in May, after jumping to 7.4% in April, according to data released by Eurostat.

　　What followed was higher and higher food and fuel prices.

Experts believe that the current economic situation in the EU seems disastrous, and the current figures are just the beginning of a tsunami of inflation in the consumer market.

stress from food

　　"I've lost 3.5 stone (22kg) since last December because I really don't have the money to buy food...I don't want to stay here anymore, I'm fed up with life. I can't stand it anymore "Susan is a carer in Sunderland, England, and although she has a full-time job, she has developed mental health issues as she struggles to pay her bills and food expenses, and she has become desperate for life.

Potatoes are sold at a market in Frankfurt, Germany, on June 14, 2022.

　　Inflation is hitting ordinary households like never before, forcing people to change their habits.

　　In Italy, inflation rose 6.8% in May from the previous year, and the cost of living also rose by a whopping 6.7%.

Each household will increase the cost of living by about 320 euros per year, of which spending on food and vegetables will increase by about 80 euros and on bread, noodles and rice by about 60 euros.

　　In France, in addition to poultry, dairy products, coffee, bread, grains, etc., which continued to rise in price, energy prices rose in May - up 28% year-on-year, and service prices also rose by 3.2%.

　　In British supermarkets, prices rose by a 13-year high of 8.3% in the past month.

The rising cost of living is causing households to spend an extra £380 a year on groceries.

　　Researchers in the UK predict that food prices in the country could peak by 15% this summer and remain elevated until 2023.

"We are unlikely to see cost-of-living pressures ease anytime soon," the UK economist said. "Some households are choosing not to eat - this is a clear indication of pressure from food."

　　In the next year and a half, the EU will experience the same crisis that Russia experienced in the early 1990s: rapid impoverishment of a large population, numerous social welfare and Subsidies are cancelled.

A lot of simple habits -- like drinking a latte in the morning -- will become a luxury.

Protest under pressure

　　While the cost of living is rising due to inflation, people's wages and jobs are falling instead of increasing.

Under the pressure, protests and strikes were launched in many parts of Europe.

People wait in line for a bus at a bus stop in London, England, June 21, 2022, due to disruptions to subway service.

　　On June 20, 80,000 Belgians marched in the streets of the capital Brussels, holding up banners of "more respect, higher wages" and "end consumption tax" to protest against soaring prices in the country.

On the same day, a strike at the airport and public transport network temporarily paralyzed traffic.

　　In May, inflation in Belgium rose to 8.97%, the highest since 1982, and in June it edged up again to 9%.

Figures from the National Bank of Belgium show that the country's low- and middle-income groups are struggling to make ends meet, with more and more people unable to pay their bills.

　　Belgium's neighbor Germany also suffered a port worker strike in early June, increasing congestion at German ports that already have 150,000 containers waiting to be loaded.

　　Also in early June, staff at Paris-Charles de Gaulle airport in France went on strike, resulting in the cancellation of about 100 flights.

　　More than 40,000 British rail workers plan to strike on the 21st, 23rd and 25th.

This is expected to affect millions of people travelling.

In addition, London subway workers also announced a strike on the 21st, and trade unions such as British teachers, medical staff and even lawyers are also considering a strike...

How long can Europe last?

　　"Europe is being hit by unprecedented inflation."

Trains stop at Clapham Junction train station in London, England, June 21, 2022.

　　Russian economists pointed out in the report that sanctions against Russia have plunged European countries into crisis.

Everything goes up as energy prices go up.

　　According to a report by the US Consumer News and Business Channel (CNBC) on the 21st, Deutsche Bank CEO Christian Sewing said, "We need to fight inflation, which at the end of the day is the biggest poison to the economy."

　　Faced with the crisis, Italian economists generally agree that the government must take immediate steps to stem the rise in fuel prices and introduce administrative tariff relief on primary commodities such as food and energy.

The French government also said it would introduce a bill in the coming weeks aimed at boosting purchasing power to protect households from inflation.

Germany has announced lower fuel taxes and lower public transport prices.

　　In addition, in order to curb high inflation, the European Central Bank announced to raise interest rates on the 9th, but then the yields of government bonds in many countries in the euro zone soared, raising concerns about a new round of European debt crisis.

Then had to hold a special meeting to discuss measures to ease the crisis in the bond market.

　　One wave after another.

How long can Europe, which is caught in the dilemma of people's livelihood, endure it, and how will it find a way out in the crisis?

(Finish)