Inflation sparks new fears for further sharp ECB rate rises

Eurostat figures show that at 9%, Ireland’s inflation rate places it almost exactly in the middle of the eurozone inflation league

The week ended with European wholesale gas prices falling back but remaining at elevated levels through the winter months.

Inflation is now embedded across Europe and likely to spur the European Central Bank to hike business and household interest rates at an even faster pace, the latest Eurostat inflation figures suggest. 

The new figures show that at 9%, Ireland’s inflation rate places it almost exactly in the middle of the eurozone inflation league, but that there is a huge range between how hot inflation is running across individual European countries.