Euro area inflation rises to 2.2 percent

Euro area inflation rises to 2.2 percent

2011-01-05 07:42:19 GMT+7 (ICT)

BRUSSELS (BNO NEWS) -- The Euro area's annual inflation is expected to have been approximately 2.2 percent in December, according to a flash estimate issued by the European Union (EU) on Tuesday.

According to the EU's statistical office Eurostat, inflation was 1.9 percent in November. The 0.3 percent rise represents the highest since October 2008 and is well above the European Central Bank's (ECB) target.

The ECB targets maintaining inflation rates below 2 percent as its recent forecast the previous month predicted an annual inflation of 1.8 percent in 2011 and 1.5 percent in 2012.

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