Eurozone inflation accelerated to 2.6 percent in MarchMarch 31, 2011 - 14:55 AMT PanARMENIAN.Net - Inflation across the eurozone accelerated to 2.6 percent year-on-year in March, the EU said Thursday, March 31, as fears mount that rising prices could put a brake on economic growth. Up from 2.4 percent in February, according to European Union data agency Eurostat, the rate is now significantly above the European Central Bank's hopes for medium-term inflation at below two percent across the 17-nation currency area, AFP reported. March marks the fourth successive month above that target, and makes it a racing certainty that the ECB will raise interest rates, probably as early as their April meeting. The March rate for the eurozone is the highest since October 2008, when it hit 3.2 percent. A year earlier the rate was 0.8 percent. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |