Eurostat has just revised their May inflation numbers. The statistical agency now believes that eurozone inflation is rising at 3.7 percent a year - the fastest rate in 16 years. Hourly eurozone labour costs rose 3.3 per cent in the year to the first quarter – the fastest since early 2003.
The ECB are now a long way from their 2 percent target. Rates are about to go up and when they do, say good-bye to the Irish and Spanish property markets.