P.M. BRIEFING : Oil Fuels European Inflation
From Times Wire Services
BRUSSELS — Higher oil prices pushed the European Community’s average annual inflation rate in September to 6.1%, the highest level in more than five years, the EC statistics agency Eurostat said today.
The EC rate for September, up from 5.9% in August, compared with 6.2% in the United States and 2.9% in Japan, Eurostat reported.
Eurostat said it was the highest annual inflation rate since July, 1985.
The surge in oil prices after Iraq’s invasion of Kuwait in August pushed up consumer prices an average 0.7% in the EC in September, the agency said.
More to Read
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
