Eurozone inflation hits 2.6 percent in March

09:37, April 01, 2011      

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Annual inflation in the Eurozone hit a new record high of 2.6 percent in March, the European Union's statistic office Eurostat said on Thursday.

According to the flash estimate of Eurostat, consumer prices in the 17-member bloc rose to a 29-month high in March from 2.4 percent in Feburary, breaching for the fourth consecutive month the "close but below 2 percent" target preferred by the the European Central Bank (ECB) to maintain price stability.

Some analysts had estimated that the index will remain stable at 2.4 percent in March due to a stronger euro.

ECB President Jean-Claude Trichet said on Monday that inflation rates are now "durably above the common definition of price stability" in the euro zone. He hinted earlier this month that the ECB may raise interest rates in April due to mounting inflationary pressures.

Source: Xinhua
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