Higher food prices push up European inflation

Euro-area consumer prices increased more than economists estimated in December as higher prices for food and services offset slower growth in energy costs.

4th January, 2013

Euro-area consumer prices increased more than economists estimated in December as higher prices for food and services offset slower growth in energy costs.

The inflation rate remained at 2.2 per cent, the European Union’s statistics office in Luxembourg said today. The median forecast of 34 economists in a Bloomberg News survey was for a decline to 2.1 per cent.

The European Central Bank last month lowered its 2013 inflation forecast to 1.6 per cent from 1.9...

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