IN BRIEF : European Inflation Rate Rises
Inflation on the consumer level rose in the 12-nation European Economic Community during November, the EEC’s statistical agency reported Thursday.
Eurostat said November consumer prices climbed 4.1% over a year ago and 0.4 percentage points from October. The agency said the data indicated that December inflation would put the rate for the year at 4.2%.
“It confirms the speeding up of inflation, which has been evident since the summer of 1988,” Eurostat said.
Eurostat said the increase in November was caused by substantial rises in Portugal, Italy, Denmark, Greece and Britain.