Resurfaced 2022 podcast reveals how Ukraine war fueled EU inflation crisis

A recent episode of Money Talks on the Go, the personal finance podcast by journalist Pedro Andersson, has resurfaced online. Originally released in 2022, it examines the sharp rise in inflation following Russia's invasion of Ukraine. The episode is now available across all major podcast platforms, as well as on the websites of SIC Notícias and Expresso. The podcast highlights how EU inflation hit record levels in late 2022. By October that year, rates climbed above previous peaks—such as the 4.4% seen in July 2008—driven by post-COVID recovery, supply chain bottlenecks, and soaring energy costs, particularly in transport. Inflation in some countries, including Germany, later fell faster than in others.

New data shows the EU rate dropped to 2.3% by December 2025, down from 2.7% a year earlier. Countries like Germany, Italy, and Ireland recorded some of the lowest figures, while the European Central Bank (ECB) forecasts 2.6% for the Eurozone in 2026. This follows ECB interest rate cuts starting in June 2024, with the deposit rate reaching 2.0% by mid-2025. Portugal's specific figures remain unreported, but trends suggest similar easing due to lower energy and import prices. *Money Talks on the Go* publishes new episodes every Monday and Wednesday at 7 a.m. The reposted 2022 episode offers a snapshot of how inflation pressures built during the war's early months.

The episode provides context for the inflation spike that began in early 2022, when rates exceeded 10% in some regions. Since then, EU-wide measures and falling energy costs have helped reduce pressures. Listeners can access the discussion on all podcast platforms or through SIC Notícias and Expresso websites.