Europe Inflation Unexpectedly Stays at 3%, Jobless Rises
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European inflation unexpectedly remained at a three-year high and unemployment increased, complicating the European Central Bank’s task of bolstering the region’s faltering economy.
The inflation rate in the euro area held at 3 percent in October, the same as in the previous month, the European Union’s statistics office in Luxembourg said in an initial estimate today. That’s the highest rate since October 2008. European unemployment unexpectedly rose to 10.2 percent in September from 10.1 in August, according to a separate report.