The euro zone’s annual consumer inflation rate (CPI) hit an all-time high of 5% in December, accelerating slightly from the 4.9% high seen in November, according to final data released on Thursday. on the 20th, by the European Union’s statistics agency, Eurostat. The result confirmed the preliminary estimate and was in line with the expectations of analysts consulted by the The Wall Street Journal.
The record CPI, which is the same as the July 1991 rate, increases pressure on the European Central Bank (ECB) to tighten its monetary policy. The ECB’s inflation target is 2%. Compared to November, the eurozone CPI rose 0.4% in December, also as expected.
Only the bloc’s core CPI, which disregards energy and food prices, had an annual gain of 2.6% in December, confirming a preliminary reading. In the monthly comparison, the core index increased by 0.4% in the last month. With information from Dow Jones Newswires.
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