Inflation in Euro-zone to Exceed 3% amid Price Rise of Energy Resources: Swiss Bank

Business Materials 16 April 2008 16:45 (UTC +04:00)

Azerbaijan, Baku, 16 April / corr Trend ABadalova / According to the forecasts of Swiss Bank UBS, the second largest bank of European, inflation in Eurozone will remain above 3% till October.

"Inflation continues increasing, especially amid increase of prices of energy and food products. The last record inflation ratio in Eurozone was 3.5%," the bank told Trend on 16 April.

In March 2008, the inflation ratio in 15 countries of Eurozone has made a new record. Annual rise in consumer prices made up 3.5%, being the highest indicator since 1999 when unified European currency was introduced. In Feb, the inflation ratio in Eurozone made up 3.3%.

The record hike in retail prices has not been observed in Switzerland, since the end of 1993. UBS forecasts drop in prices in the country in future.

UBS forecasts further increase in prices in UK. At present inflation ration in the UK reaches 2.5%.

The inflation ratio in the Scandinavian countries is 3%, with 2% in Norway and Sweden. "In the near future, the rise in inflation will be observed in both the countries," the bank said.

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