Yearly inflation in the 15 nations that use the euro hit a new record high of 3.5 percent in March, the EU statistical agency Eurostat said Monday.
The rate of inflation in countries that use the Euro has hit a record high.
Inflation was 3.3 percent in February, running far above the European Central Bank's guideline of just under 2 percent as worries over banks' reluctance to lend has held it back from the usual move of cooling inflation by hiking borrowing costs.
The rate represents the fastest pace of price increases since Eurostat started keeping records 12 years ago for the countries that launched the common currency in 1999. Eurostat's figure is a first estimate, which it will confirm on April 16.
The rate of inflation in countries that use the Euro has hit a record high.
Inflation was 3.3 percent in February, running far above the European Central Bank's guideline of just under 2 percent as worries over banks' reluctance to lend has held it back from the usual move of cooling inflation by hiking borrowing costs.
The rate represents the fastest pace of price increases since Eurostat started keeping records 12 years ago for the countries that launched the common currency in 1999. Eurostat's figure is a first estimate, which it will confirm on April 16.
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