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The average rate of inflation in the Eurozone reached 1.7% in July, the highest it has been in the last 20 months. Across the EU27 the figure stands even higher, at 2.1%. The figures, provided by Eurostat, are likely to be due to higher food and energy prices across Europe. This hike in prices and corresponding increase in inflation have largely been prompted by a VAT increase in Finland, Greece, Portugal, Spain and Romania and therefore do not come as a surprise to economists.
Photo : flickr, kiki99
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