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Eurozone witnesses 0.6% inflation rise
General News |
30/11/2009
Consumer prices have risen for the first time since April 2009, according to the European Union's Eurostat agency.
An inflation reading of 0.6 per cent has been recorded in the eurozone, following five consecutive months of falling prices.
The positive reading had been expected by many commentators given that the 16 countries using the single European currency returned to economic growth earlier in November.
Colin Ellis, European economist at Daiwa Securities, told the BBC that the eurozone's "flirtation with deflation" had only been short-lived.
He added: "Inflation is set to rise further in the coming months, with energy prices acting to push up the headline rate."
Euro area inflation is measured by the Monetary Union Index of Consumer Prices, based upon early price information relating to the reference month from member states.
The flash estimation procedure combines historical statistics with partial information on recent price developments to give a total index for the eurozone.
Posted by Stephen Wilkinson
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