Euro-Area Inflation Jumps to Decade-High 3% in Test for ECBBy
Core price growth reaches 1.6%, fastest pace since 2012
Policy makers see current spike as temporary phenomenon
Euro-area inflation jumped to the highest in a decade in August, testing policy makers’ insistence that a post-crisis spike in cost pressures should prove temporary.
Consumer prices rose 3%, exceeding the predictions of all 37 economists in a Bloomberg survey. A measure of core inflation that strips out volatile items such as energy and food reached 1.6%, the highest since 2012.