BREAKING NEWS

BREAKING NEWS

Oil fuels euro zone inflation

Now Reading:

Oil fuels euro zone inflation

Text size Aa Aa

As expected, euro zone inflation jumped in December.

Economists said that was mainly due to the effect of more expensive oil.

The European Union’s statistics office Eurostat estimated that consumer prices in the 16 countries using the euro rose 0.9 percent year-on-year in December.

That is still far below the European Central Bank’s inflation target of under, but close to, two percent.