English• Unemployment in the region reaches 10%
Inflation in the Eurozone rose more than expected in March, due to an increase in oil prices, Eurostat announced. The rate of inflation in the region reached 1.5% in March, from 0.9% in February, according to preliminary estimates by Eurostat. The rise posted in March is the largest since December 2008. Economists were estimating an inflation of 1.1% in March, in the Eurozone.
Even though it has increased, March inflation remain below the 2% target of the European Central Bank. Under these circumstances, analysts estimate that the ECB will not change the policy rate before the end of the year, or Q1 2011.
Also yesterday, Eurostat announced that unemployment in the Eurozone increased to 10% in February, from 9.9% in the previous month, reaching the highest level since August 1998. The number is in line with analyst estimates. Spain has the highest unemployment rate (19%). Germany has an unemployment of 7.5%, and France has an unemployment of 10.1%.
The rise in unemployment and the difficulties in the private sector are affecting demand in the Eurozone. Given this factor, it is likely that the turnaround of the Eurozone economy will encounter headwind. The economy of the region only increased 0.1% in Q4 2009.
Euro
Dolar SUA
Franc elveţian
Liră sterlină
Gram de aur
