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Eurozone Inflation Pressures Rise


LONDON, Nov 2 (Reuters) - Euro zone future inflation pressures rose to a new seven-year high in September and look likely to mount further, a report said on Friday.


The Economic Cycle Research Institute said its Eurozone Inflation Gauge, which tries to predict trends in inflation, rose a full point to 107.5 from 106.5 in August.


"The EZFIG remains in a cyclical uptrend and in its latest reading hit a seven-year high. Inflation pressures in the euro zone continue to mount," the report said.


The gauge was nudged higher by German inflationary pressures, which rose to a seven-year high, while in Italy pressures eased.


Official data show Euro zone inflation rose to 2.6 percent in October, much higher than the 2.3 percent expected by economists. It is forecast to rise further in the next few months.