Emmanuel Ferry Percent Quotations

This is the highest inflation rate we've seen in over three years and much higher than 0.3 percent in June 1999, ... Euro-zone inflation should come in around 2.2 percent in June, and the ECB is likely to respond with a 25-basis-point rate rise in September.

This confirms my pessimistic scenario of a 0.9 percent growth for 2004 and consumer spending recovering only in 2005.