Eurozone inflation climbs above 2%

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Annual inflation in the eurozone is estimated to have risen to 2.2% in December 2010, up from 1.9%, Eurostat, the European Commision's statistics bureau, said on Tuesday.

Though Tuesday's forecast is a flash estimate of consumer price inflation in the euro area, such estimates have been proven right on 21 of the past 24 occasions, and on the other three occasions have been out by 0.1%. The likely surge means inflation is now above the European Central Bank's (ECB) target of below but close to 2

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