Eurozone inflation jumps to decade high

Consumer prices rose 3%, exceeding the predictions of all 37 economists in a Bloomberg survey. A measure of core inflation that stripped out volatile items such as energy and food reached 1.6%, the highest since 2012.

LONDON: Eurozone inflation jumped to the highest in a decade in August, testing policy makers’ insistence that a post-crisis spike in cost pressures should prove temporary.

Consumer prices rose 3%, exceeding the predictions of all 37 economists in a Bloomberg survey. A measure of core inflation that stripped out volatile items such as energy and food reached 1.6%, the highest since 2012.