Eurozone inflation hits three-year high in December

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Consumer prices in the eurozone surged to a three- year annual high thanks to a jump in energy costs.

Year-on-year inflation in the 19-member currency bloc climbed to a higher-than-expected 1.1 per cent in December compared with 0.6 per cent in November, the European Union’s statistics office Eurostat said in preliminary data released on Tuesday.

Analysts had expected consumer prices to rise to 1 per cent in December.

The eurozone’s annual inflation rate now stands at its highest rate since September 2013.

dpa