An American fleeing from high living costs can no longer escape by catching a jet to Europe. He will find prices rising there quite as rapidly as in the U.S., or even faster. In this age of supposed European unity, cynics say, galloping inflation is the one thing that all Europeans really do have in common. By year's end, Europeans could be paying close to 10% more for food, clothing, shelter and other everyday needs than they did in 1972.
In Italy, Ireland, Portugal and Spain living costs threaten to soar as high as 12% or even 15% this year....
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