Eurozone inflation over 3%

By: trademagazin Date: 2008. 01. 07. 00:00

Annual inflation in the eurozone remained at 3.1% in December last year, the figure was the highest in more than six years.

 Inflation in the eurozone had been rising in previous months, due to a hike in oil and food prices. Inflation was 2.6% in October and 2.1% in September. It last hit 3.1% in May 2001, months before the euro came into circulation. The Frankfurt-based European Central Bank aims to keep eurozone annual inflation under two% in order to maintain price stability. Despite higher inflation, analysts said the ECB was unlikely to raise its benchmark interest rate in the foreseeable future.

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