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Business

Euro Zone Inflation Still Above Target Ceiling

Euro zone inflation remained steady in December, according to the European statistical office, Eurostat. Initial estimates showed eurozone inflation at 2.2 percent last month, unchanged from November and in line with analysts' expectations. It was the fourth month inflation remained above the European Central Bank's 2 percent target ceiling. Eurostat failed to predict inflation rates for the coming year, but bankers HSBC Trinkau & Burkhardt forecast the same 2.2 percent rate for 2003.