Frankfurt, Germany - Inflation in 17 countries that use the euro slipped to a surprisingly high 2.8 percent in April, official data showed Friday, keeping the pressure on the European Central Bank later this year to increase interest rates more.
At the same time, measures of corporate and consumer optimism has decreased and unemployment remained high - having an image mixed with the future of the economy that could complicate the work of the Bank as President Jean-Claude Trichet, whose mandate ends on October 31prepares to deliver broadband to a successor.
Speculation that inherits employment have focused on the head of the Bank of Italy Mario Draghi, who has been publicly supported by the France and the Italy. European leaders say that a decision will be made in the coming weeks.
The figure of inflation published by Eurostat, the Statistical Office of the EU, increased by 2.7% in March. Many analysts expected the figure to remain unchanged this month.
Inflation has remained above the purpose of the ECB of slightly less than 2%, mainly due to higher oil and food prices. Although the Bank expects the bump in price in order to facilitate the next year, she was concerned enough to start at rates high depressions Records, with increase of a quarter of a point to 1.25% on 7 April.
Economists predict many more these increases by the end of the year.
While the price of oil are the main culprits, "the underlying trend in prices seems also recently, have become a bit stronger," said economist Ralph Solveen at Commerzbank. "Numbers of today will support those on the Council who are pushing for a faster normalisation of monetary policy of the ECB."
Although the key interest rate is not far from its lowest record, relocation of the Bank has raised concerns that higher borrowing costs may make it more difficult for countries in financial difficulty, such as the Greece and the Irelandwhich received loans from rescue to avoid default on their detteset the Portugal, who sought a rescue plan.
These three countries are only a small fraction of the economy of the euro area, however and the Bank seeks to strong growth and rising prices in Germany, which consists of 27 per cent of economic production in the euro area and has a powerful export cars and industrial machinery-led economy.
Higher rates are the main tool of the Central Bank in the fight against inflation, but they can hurt growth if it at the wrong time. The Bank must find a rate that works for all the countries of the euro area, which has renounced their independent interest rate policies when they joined the euro.
Other signs for the zone euro remained mixed Friday. Unemployment rate was steady at 9.9% in March. The rate was reinforced by the underperformance of the economies in several countries, particularly in Spain, the fourth euro economy. He has a record unemployment rate 21.3% following a housing bubble has collapsed and unemployment 44.6% for persons of less than 25 years.
During this time, indicator of broad economic sense of the EU declined significantly, 2.3 points to 105.1, for the European union of 27 members, oppressed by a sharp drop in services and sectors of the retail of Great Britain.
The index fell more moderately 1.1 point of 106.2 for the euro area, the second consecutive decline. Most of the members of the EU registered a dip, and index remains firmly above its long-term average in Germany, France and the Netherlands.
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