Eurozone inflation hits twoyear high
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. –