Economics
Euro-Area Inflation Accelerates to Fastest Rate Since 2014
- Consumer prices increased 0.4% in September, matching estimate
- Unemployment held steady at 10.1% in August, Eurostat says
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Inflation in the euro area accelerated to the fastest since late 2014 in September, the European Union’s statistics office in Luxembourg said on Friday.
While inflation in the euro area is slowly ticking higher, it remains far below the European Central Bank’s goal of close to 2 percent and President Mario Draghi has pledged to keep up efforts to boost price growth. With interest rates at a record low and the ECB buying 80 billion euros ($90 billion) a month of debt, Draghi this week renewed his plea to governments to use monetary stimulus as an opportunity to deliver structural reforms and help create a sustainable recovery.