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LUXEMBOURG, Oct 10: Eurozone finance ministers met here on Monday to review growing signs that their economies are beginning to feel the pinch of runaway oil prices. Much to the surprise of policymakers, the 12-nation eurozone has so far resisted the surge in oil prices quite comfortably, with inflation remaining tame and interest rates historically low.
However, a spike in preliminary eurozone inflation figures in September has fuelled fears that oil prices have been high enough for long enough to start biting into growth in the bloc, which shares Europe’s single currency.—AFP
