Inflation in eurozone hits record high of 4.9%

Inflation in eurozone hits record high of 4.9%

Consumer prices across the 19 countries that use the euro currency are rising at a record rate as a result of a huge spike in energy costs this year, official figures showed Tuesday.

Eurostat, the European Union's statistics agency, said the eurozone's annual inflation rate hit 4.9% in November, the highest since recordkeeping began in 1997 and up from 4.1% in October, the previous high mark.