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Pakistani army: 6 soldiers and 7 militants killed in clash near the Afghan border
Israeli media: Sirens sound in the settlement of Kerem Shalom in the Gaza envelope area
Afghan source to Al Mayadeen: We still believe in dialogue and prioritize diplomatic solutions with Pakistan; though we are ready for all possibilities.
Afghan source to Al Mayadeen: Pakistan purposely obstructed negotiations in Turkey by making unrealistic demands.
Al Mayadeen's correspondent: More than 70 martyrs in Israeli attacks on Gaza since dawn.
Death toll from latest Israeli strikes on Gaza rises to 30
Al Mayadeen's correspondent: Five killed in the Israeli bombing of a civilian vehicle on Al-Qassam Street in Khan Younis, south of the Gaza Strip
Hamas confirms that it has no connection to the shooting incident in Rafah and affirms its commitment to the ceasefire agreement
Al Mayadeen's correspondent: Two civilians were killed and four others, including a child and an infant, were injured in an Israeli bombing of a house belonging to the Al-Banna family in the al-Sabra neighborhood, south of Gaza City
Al Mayadeen's correspondent: An Israeli airstrike targets the vicinity of Al-Shifa Medical Complex, west of Gaza City

Eurozone hits new record high inflation of 5% for December

  • By Al Mayadeen Net
  • Source: Agencies
  • 7 Jan 2022 14:23
2 Min Read

Headline inflation comes in at 5% for December, the highest on record so far, as debates rise on whether the ECB should take a more aggressive stance against rising prices.

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  • November's inflation had also hit a record high of 4.9%
    November's inflation had also hit a record high of 4.9%

Inflation in the Eurozone hit a new record high in December, as data showed on Friday that the headline inflation rate was at 5% for the month compared to the same time last year.

The month of November had also scored a record high of 4.9%.

Inflation had been increasing in recent months, as money managers were debating if Europe's Central Bank should take a more aggressive stance to combat the rise in prices.

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Energy costs hid risen in December, and so had food costs, which contributed to the rise in inflation. These increases are adding to problems for policymakers and the ECB, who had been keeping interest rates at very low levels to stimulate the economy as it recovers from Covid.

The ECB said last month that it would limit its monthly purchase of assets, but added that it will continue providing stimulus in 2022.

Read more: ECB lowers Eurozone 2022 GDP projection, raises inflation forecast

The pandemic and inflation are expected to be the biggest risks for the economy in 2022.

“If inflation were to spring further and persistent upside surprises, central banks might be forced to step on the brakes hard,” analysts at Berenberg said Friday in their global outlook for the new year.

The US federal reserve is making moves ahead of Europe to address rising prices amid inflation by raising interest rates, as consumer prices spiked 6.8% compared to the past year in November, marking the highest inflation rate in 39 years.

  • Eurozone hits new record high inflation of 5% for December
  • inflation
  • EU
  • European Central Bank
  • European Union

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