Eurozone Inflation Rising at Record Pace
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The increase highlighted the difficult task facing the European Central Bank as it seeks to enforce price stability in the face of slowing economic growth.
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THE euro charged to a record high yesterday, breaching the $1.35 mark as markets seized on a plunge in sales of new homes in America as an excuse to renew their assault on the US currency.
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BRUSSELS: Euro zone finance ministers yesterday voiced concern about the euro&#39;s surge to record highs against the dollar, with some pressing for international co-operation to tackle such exchange rate swings.
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Led by higher food and energy costs, inflation in Spain accelerated to the fastest rate in more than a decade in December even after economic growth slowed.
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The euro briefly rose to a record high  versus the dollar for the fifth session running on Wednesday  and tested last year's lifetime high against the yen as  investors' bearish views of the U.S. currency dominated  trading.
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The euro climbed to a new record high level of 1.3021 dollars as markets remained concerned by the large US current account and budget deficits.
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Geopolitical fears following news of the killing of Pakistani opposition leader Benazir Bhutto hit the pound as well as the dollar, with the euro hitting a new record high of 0.7338 against the UK currency.
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Inflation in Germany, the eurozone's biggest economy, picked up this month as a result of increased tobacco taxes, key regional data showed.
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The pound hit another 26-year peak against the dollar on Tuesday, and the euro held close to a historic high point against the US unit as dealers bet on rising interest rates in Britain and the eurozone.
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The pound has risen, hitting new 10-month highs against the euro, on continued expectations that the Bank of England will raise interest rates further in November.
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PARIS  - The euro hit a new record of 1.3555 dollar early as activity was resuming in Europe after the Christmas holiday. The previous high for the European currency was 1.3549 dollar, during trading on Friday.
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The pound on Wednesday reached a fresh 26-year high against the dollar, which also fell against the euro on the eve of European interest rate decisions.
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Wholesale inflation rose last month at the fastest pace in more than 14 years, largely because of steep jumps in energy and food costs, the government reported yesterday, raising concerns
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The price of gold soars to a new record, driven by concerns about inflation and strong oil prices.
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WASHINGTON -- Higher costs for energy and food last year pushed inflation up by the largest amount in 17 years, even though prices generally remained tame outside of those two areas.
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Inflation in the 13 nations that use the euro surged to 3.1 percent in November versus a year earlier, its highest level in more than six years, the European Union's statistics agency Eurostat said Friday.
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Wages rose faster than expected in the June-August period but analysts say the increases are still not high enough to cause inflation worries at the Bank of England.