Safe Mode: On
Eurozone inflation and unemployment rise

Eurozone inflation jumped more than expected in August.

Economists said rising energy prices were the main factor.

Consumer prices in the 17 countries using the euro rose 2.6 percent year-on-year.

It had been up 2.4 percent in July.

The numbers, which were a first estimate from the European Union's statistics office, make it less likely the European Central Bank will cut interest rates at its policy meeting next Thursday.

However, the Bank also has to take into account the fact that unemployment hit a new record for the eurozone in July with 18 million people out of work.

The jobless rate was 11.3 percent of the working population.

Rising unemployment is likely to limit inflationary pressures in coming months.

Added: Aug-31-2012 Occurred On: Aug-31-2012
World News
Tags: euro, zone, crisis, debt, eu, europe, economy, unemployment, inflation, economy
Views: 1233 | Comments: 14 | Votes: 2 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 2
You need to be registered in order to add comments! Register HERE
Sort by: Newest first | Oldest first | Highest score first
Liveleak opposes racial slurs - if you do spot comments that fall into this category, please report them for us to review.

Advertisement below
Liveleak on Facebook