(Bloomberg) — A record rise in energy fueled eurozone inflation more than initially recorded in February, adding to the European Central Bank’s challenge to scale back monetary stimulus as uncertainty over the economic fallout from the war in Ukraine is tall.
Consumer values rose 5.9% last month, according to Eurostat data published on Thursday, while energy prices soared 32% from a year earlier.
The report comes as ECB President Christine Lagarde reiterated her commitment to take a gradual and flexible approach to ending large-scale asset purchases and raising interest rates. Monetary policymakers remain optimistic that the economic recovery in the 19-nation region will continue despite the war, underpinning a job market that is in its best shape since the 1970s.
A separate statement showed the eurozone’s job vacancy rate rose to 2.8% in the fourth quarter, in a sign that companies may find it increasingly difficult to hire staff.
Eurozone inflation rises faster than expected on rising energy
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