Eurozone inflation hits fresh record

Annual inflation in the eurozone looks to have hit a record high of 4.1% in July.

If the July estimate, released on Thursday, is accurate, inflation is now at its highest level since the introduction of the euro in 1999 and is now more than double the European Central Bank's (ECB) inflation target of below but close to 2%.

The estimate, published by Eurostat - the European Commission's statistics bureau, is a tenth of a percentage point higher than the June figure, the previous record high.

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