Eu­ro­zone in­fla­tion hits twoyear high

The Myanmar Times - - Business | International -

EU­RO­ZONE con­sumer prices rose to a near two-year high in Septem­ber, of­fer­ing hope that a dis­puted pro­gram by the ECB to stim­u­late the econ­omy may be de­liv­er­ing. The Euro­stat sta­tis­tics agency said in­fla­tion in the 19-coun­try cur­rency bloc rose to 0.4 per­cent last month, the first time it has hit that level since Oc­to­ber 2014.

Eu­ro­zone un­em­ploy­ment, mean­while, was un­changed at a five-year low of 10.1pc in Au­gust, the agency said, with both fig­ures in line with fore­casts by an­a­lysts.

The eu­ro­zone’s ul­tra-low in­fla­tion is a huge worry for the Euro­pean Cen­tral Bank, whose goal is to keep in­fla­tion near 2pc.

In­fla­tion re­flects un­der­ly­ing con­sumer de­mand in the econ­omy and while dou­ble the 0.2pc reached in Au­gust, the level re­mains low and means Europe is still short of a full-fledged re­cov­ery. In the un­em­ploy­ment data, youth job­less­ness re­mained at a dizzy­ing 47.7pc in Greece and 43.2pc in Spain. In Ger­many it was 6.9pc. –

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