Eurozone inflation hits three-year high

Eurozone inflation surged unexpectedly to a three-year high of 3% in September 2011, adding to the dilemma facing the European Central Bank as an escalating debt crisis pushes the region towards recession.

The acceleration weakened the case for an ECB interest rate reduction at its meeting on the 6 October 2011, although the euro’s monetary guardian was expected to press ahead with measures to provide extra liquidity to eurozone banks. Eurozone unemployment, meanwhile, saw a surprise fall in August 2011

Eurostat: Press Release: STAT/11/142: Flash estimate - September 2011 Euro area inflation estimated at 3.0% http://europa.eu/rapid/pressReleasesAction.do?reference=STAT/11/142&format=PDF&aged=0&language=EN&guiLanguage=en

Eurostat: Press Release: STAT/11/143: August 2011 Euro area unemployment rate at 10.0% EU27 at 9.5% http://europa.eu/rapid/pressReleasesAction.do?reference=STAT/11/143&format=PDF&aged=0&language=EN&guiLanguage=en

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