Inflation hits record of 5% in 19 countries using the euro

LONDON (AP) — Consumer prices in the 19 countries that use the euro currency have soared at a record rate, led by a surge in food and energy costs. The European Union’s statistical office released numbers Friday showing inflation rose to 5% in December compared with a year earlier. That’s the highest level in the eurozone since recordkeeping began in 1997, breaking the record of 4.9% only just set in November. Soaring prices are compounding problems for European Central Bank policymakers who have been keeping interest rates at ultra-low levels to stimulate the economy as it recovers from the coronavirus pandemic.