Euro zone inflation hits another record high of 7.5% as Russia-Ukraine war pushes up energy prices

The euro zone's cost of living hit a record high last month, raising more questions about how the European Central Bank can keep consumer prices in check.

Headline inflation was at 7.5% for the month of March, according to preliminary data from Eurostat.

At a time when Russia's invasion of Ukraine has brought renewed economic uncertainty, some economists are wondering if the euro zone will enter a recession in 2022, something that European officials have so far refused to say.

Italy's Prime Minister said last week that there will be economic damage from the invasion of Ukraine, but not a recession.

The euro zone has taken unprecedented measures to punish Russia for invading Ukraine, such as blocking the sale of luxury goods, and these sanctions are having repercussions on the euro zone economy itself.

Higher energy prices are driving up inflation across the bloc.

This is a breaking news story and will be updated soon.