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Inflation Hits Record of 5% in 19 Countries Using the Euro | Business News

LONDON (AP) — Consumer costs in the 19 international locations that use the euro forex hit a file excessive of 5% in December in contrast with a 12 months earlier.

The rise was led by a surge in vitality costs, in accordance numbers launched Friday by the European Union’s statistical workplace.

Inflation is now at the highest stage in the eurozone since recordkeeping started in 1997 and broke a file set in (*19*).

Soaring costs are compounding issues for European Central Bank policymakers who’ve been preserving rates of interest at ultra-low ranges to stimulate the financial system amid the world pandemic.

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