Eurozone Inflation Came in at Highest in 25 Years

Inflation in the Eurozone hit record high in November which raises question towards European Central Bank’s stance on monetary policy amid soaring inflation.

Headline inflation came in at 4.9% in November compared to the same period last year. The year-over-year number beat forecast of 4.5% from Reuters poll.

The headline inflation stood highest in twenty-five years.

The data for soaring inflation came in at a time when eurozone’s policy makers are already concerned about Omicron variant which is expected to tumble the global financial markets for coming several weeks.