Rising fuel costs offset slowing electricity prices, Spanish inflation unexpectedly accelerates, rising electricity prices lead to a sudden acceleration of inflation across EU countries.
Inflation accelerated
Inflation unexpectedly accelerated in Spain, denting hopes that record prices in the euro zone are peaking and putting more pressure on the ECB to act.
Spanish inflation accelerates to 8.5% in May
CPI growth accelerated to 8.5% in May from 8.3% in the previous month, according to EU standards, as higher fuel costs offset a slowdown in electricity prices, which had driven record inflation across Europe in the previous months. Excluding volatile factors such as food and energy, the growth rate of basic prices accelerated to 4.9%.
The data provides a preliminary indication of inflation trends in the 19-nation euro zone, with inflation expected to accelerate to 8.1% in Germany due later on May 30 and in Belgium for May. Preliminary Eurozone CPI will be released on May 31.
Offshore wind capacity in the UK has more than quintupled, and wind power prices are already lower than real fuel or nuclear power
Since the EU is trying to get rid of fossil fuels in Russia, for some countries, strengthening offshore wind energy construction is an effective way to replace fossil fuels like photovoltaic solar energy.
Building wind farms offshore will benefit from stronger and more stable wind speed, and avoid wind turbines from destroying the field of view Based on strong support for offshore wind power construction in the UK, large areas of seabed have been allocated to developers, and large subsidies have been provided to help improve the level of power generation technology and reduce costs. Since the first project was completed in 2000, the UK’s offshore wind power installed capacity has increased by more than 5 times, and the price of wind power is already lower than that of fossil fuels and nuclear power.
