Inflation in 19 nations using euro hits record high of 4.9%
ABC News
Official figures show that consumer prices across the 19 countries that use the euro currency are rising at a record rate
LONDON -- Consumer prices across the 19 countries that use the euro currency are rising at a record rate as a result of a huge spike in energy costs this year, official figures showed Tuesday.
Eurostat, the European Union's statistics agency, said the eurozone's annual inflation rate hit 4.9% in November, the highest since records began in 1997 and up from 4.1% in October, the previous high mark.
Like others, the eurozone, which is made up of 19 economies including France and Germany, is enduring big price hikes as a result of the economic recovery from the coronavirus pandemic and blockages in supply chains.
Across the eurozone, inflation is running at multiyear highs, including in Germany, Europe's largest economy, where the annual rate has hit 6%.
