Print Edition - 2017-01-06  |  Money Digest

Inflation in eurozone jumps


Jan 6, 2017-

Inflation in the eurozone jumped to 1.1 percent in December, the highest level for more than three years, boosted by rising oil prices, official EU figures showed on Wednesday. The figure was nearly double the 0.6 percent in November and edges inflation much closer to the European Central Bank’s target of 2.0 percent as a fragile economic recovery continues. Analysts surveyed by financial services provider Factset had predicted 1.0 percent inflation for the eurozone, the 19-country area that uses the European single currency. The last time inflation was at the same level was in September 2013, the European Union’s statistics agency Eurostat said. Analyst Howard Archer said the 1.1 percent figure for December 2016 was “more than originally expected but perhaps less than suspected after German inflation jumped to 1.7 percent.” (AFP)

Published: 06-01-2017 09:16

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