Eurozone Future Inflation Gauge Hits 7-Year High
Inflation pressures in the euro zone rose to a seven-year high in August and remain in an upward trend, a report said on Friday.
The Economic Cycle Research Institute said its Eurozone Future Inflation Guage, which aims to predict cyclical turns in inflation, rose to 107.1 in August from 105.3 in July.
"The EZFIG rose to a seven-year high in its latest reading and remains in a cyclical uptrend, underscoring the heightened inflation pressures in the euro zone," the report said.
The gauge was pushed higher by German, Italian and Spanish inflation pressures, but in France they remained stable. The German index of future inflation rose to a 23-month high.
Official data showed euro zone inflation rose to 2.1% in September, up from 1.7% the previous month, pushed up by the base effects of a fall in oil prices last year and a surge in oil prices in recent months.