LONDON Dec 1 A market gauge of long-term euro
zone inflation expectations hit its highest level since January
on Thursday, as a surge in oil prices boosted expectations for
higher inflation in the months ahead.
A deal by the Organization of the Petroleum Exporting
Countries (OPEC) and Russia on Wednesday to reduce output to
drain a global supply glut has pushed oil prices to six-week
highs above $52 a barrel and added to growing expectations about
a pick-up in inflation globally.
The euro zone five-year, five-year breakeven forward, which
is followed closely by the European Central Bank,
rose to 1.6424 percent, its highest level since January.
(Reporting by Dhara Ranasinghe, editing by Nigel Stephenson)