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BRUSSELS, Jan 4: Inflation in the nations sharing the euro remained at 3.1 per cent in December, well above the European Central Bank’s preferred level, according to a first estimate from the EU’s Eurostat data agency on Friday.
The 3.1 per cent annual inflation rate was unchanged from November 2007 but such a high level, hoisted by rising oil and food prices, had not previously been seen for six-and-half years.
The new figures confirm that inflation in the eurozone remains well above the European Central Bank’s (ECB) preferred level of close to but less than 2.0 per cent.—AFP
