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01-05-2010, 07:12 PM #1
European Inflation Rises As Its Economy On Recovery Course
According to December reports, the 16-member eurozone’s inflation rate rose to 1% signing that currency bloc's economy remained on a recovery course. The data released on Tuesday showed the positive sign of the recovery from recession.
According to the European Union's statistics office, Eurostat, the annual inflation in the eurozone rose from 0.5% in November to 1% in December.
But despite the rise in inflation rate, consumer prices in the eurozone are still well below the European Central Bank's (ECB) 2% ceiling for annual inflation.
Economists expect the ECB to keep interest rates on hold for the months ahead with the eurozone recording only a modest recovery from the recession that engulfed the currency bloc last year.