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.