Inflation & Prices
Europe’s Inflation Squeeze to Linger Even as Gas Prices Drop
- Gas prices have fallen more than two-thirds since summer
- But they remain very elevated compared with historic average
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European gas prices are plunging from the peaks reached over the summer, but businesses and households will have to wait for relief from the squeeze from soaring inflation.
Benchmark futures dropped below €100 ($99) per megawatt-hour this week for the first time since June, due to better-than-expected progress in filling storage facilities and mild weather. They extended losses Tuesday, dropping as much as 6.8% to €92.40, down from as high as €342 in late August.