Eurozone Inflation Hits New Record | Europe’s Economy Burns | Europe Energy Crisis. Europe's economy just hit another record. No, it's not good news. Inflation in 18 of the continent's countries is almost certain to reach a whopping 10.7, the highest in four decades. Growth has slowed down. Households are having a tough time with the high costs of living. Businesses are suffering. And Europe's leadership seems nowhere close to getting the crisis under control. Watch to know more.