Euro-Area Inflation Unexpectedly Accelerates on Spain: Economy

Euro-area inflation unexpectedly accelerated in September after the Spanish government increased sales tax to help plug its budget gap, driving prices up the most in 17 months. Consumer prices in the 17-nation euro region increased 2.7 percent from a year earlier after a 2.6 percent gain in August, the European Union’s statistics office in Luxembourg said in a flash estimate today. The median forecast of 40 economists in a Bloomberg News survey was for the rate to fall to 2.4 percent.

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