Eurozone inflation jumps to 2.5% in March
Middle East energy shock pushes annual rate past European Central Bank’s 2% target
Middle East energy shock pushes annual rate past European Central Bank’s 2% target

Figure was above expectations despite lower energy prices and stronger euro

Economists expect ECB to keep rates on hold at December meeting

Policymakers warn risks to economy from energy shock driven by Middle East conflict have ‘intensified’

Figure comes after ECB kept rates on hold

Figure comes as Middle East war has triggered a surge in energy prices

Policymakers indicate they may need to raise borrowing costs if energy price surge triggers persistent inflation