Europe's inflation rises to 3pct

Hopes of a euro zone rate cut soon have been undermined by news of a further acceleration in inflation.

14th October, 2011

Average inflation across the euro zone jumped to three per cent in September from 2.5 per cent the previous month, latest statistics have shown.

This follows news yesterday that Ireland's headline inflation rate rose to 2.6 per cent in Septempber, pushed up by nortgage rates and higher prices for clothes.

The rise in European inflation is the biggest in three years.

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