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Eurozone inflation surges to record high of 4.9 percent

1 month ago   |   By Politico

FRANKFURT - Inflation in the eurozone surged to the highest level since the introduction of the common currency, clocking in at more than twice the European Central Bank's 2 percent target, the EU statistics agency reported Tuesday.
Euro area annual inflation is expected to hit 4.9 percent in November, up from 4.1 percent in October according to a flash estimate from Eurostat. That's well above what most analysts had expected.
A major driver of the jump was energy prices, which surged 27 percent.
The ECB has argued that high inflation pressures are largely driven by temporary factors and...
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