Inflation in the euro zone hits a record high – archyworldys

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EURO ZONE INFLATION HAS A HIGHER RECORD

BERLIN (Reuters) – Inflation in the euro area accelerated more than expected in November to reach an all-time high due to the sharp rise in energy prices, Eurostat’s first estimate showed on Tuesday.

Consumer prices in the 19 countries that adopted the single currency rose 4.9% year-on-year, unheard of since the statistics began 25 years ago, when the Reuters consensus predicted an increase of 4.5% after 4.1% recorded in October.

This new surge in inflation is mainly due to the increase in energy prices, estimated at 27.4% over one year.

In Germany, inflation reached a record level of 6% over one year, according to the estimate published on Monday by the Federal Statistical Office, while in France, the HICP consumer price index recorded a unprecedented growth since September 2008 (+ 3.4% over one year).

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(Report Balazs Koranyi, French version Laetitia Volga, edited by Sophie Louet)