PRICES AND WAGES
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Higher oil prices pushed up annual inflation rates in the United States and the euro area. The American rate rose to 3.7% in June and the euro area's rate increased to 2.4%, the highest since March 1996. America's producer-price inflation quickened to 4.3% in the year to June, and German producer-price inflation increased to 5.5%.
This article appeared in the Economic & financial indicators section of the print edition under the headline “PRICES AND WAGES”