Eurozone inflation jumps to decade high of 3% in latest test for ECB

Measure of core inflation that strips out volatile items such as energy and food reached 1.6%, the highest since 2012

ECB head Christine Lagarde is not worried about inflation.

Eurozone inflation jumped to the highest in a decade in August, testing policymakers’ insistence that a post-crisis spike in cost pressures should prove temporary.

Consumer prices rose 3%, exceeding the predictions of all 37 economists in a Bloomberg survey.