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Inflation pumped up in eurozone

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Inflation pumped up in eurozone

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Inflation in the eurozone has been pushed up much faster than economists had predicted, and the jobless rate reached double digits in March.

According to the EU’s statistics office in the 16 countries that use the euro inflation hit 1.5 per cent. That is the highest since December 2008.

The figures suggest a return to pressure on prices despite low demand from consumers.

The 10 per cent unemployment figure is the highest since August 1998, but was what the market had expected.