Euro area’s inflation reaches highest level in...
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Inflation in the eurozone hit a new record of 5 percent in December, , the European Union’s statistical arm Eurostat has said. Preliminary data from Eurostat shows that this was the highest level in the eurozone since recordkeeping began in 1997. It breaks the record of 4.9 percent set in November. The increase was mainly driven by the spike in energy costs, which shot up again in December, jumping at an annual rate of 26 percent. However, that was somewhat lower than the previous month. A sharp rise in the cost of food, alcohol and tobacco contributed to the overall increase in inflation, picking...
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