October 18, 2016 / 3:06 PM / a year ago

Gauge of euro zone long-term inflation highest since early June

LONDON, Oct 18 (Reuters) - A key market measure of long-term inflation expectations in the euro zone rose on Tuesday to its highest level since early June, on the back of signs of a pick-up in inflation globally.

Data on Tuesday showed U.S. consumer prices recorded their biggest gain in five months in September as the cost of gasoline and rents surged, pointing to a steady build-up of inflation that could keep the Federal Reserve on track to raise interest rates in December.

Separate data showed British inflation recorded its biggest jump in two years last month.

Against this backdrop, the five-year, five-year breakeven forward, a market measure of the euro zone’s long-term inflation expectations tracked by the European Central Bank, rose above 1.43 percent, its highest level since June 8. (Reporting by Dhara Ranasinghe, editing by Nigel Stephenson)

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