Inflation in the eurozone has risen to its highest level in almost a decade, increasing pressure on the European Central Bank to slow the pace of its bond purchases.
Driven up by the region’s recent economic rebound, August’s jump in the eurozone’s harmonised index of consumer prices to 3 per cent from a year earlier was up from 2.2 per cent in July. The rise exceeded the expectations of most economists.
Consumer prices have not risen as fast in the 19-country bloc since November 2011 when the ECB had just raised interest rates for the region, the last time it did so.
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