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Euro-zone inflation unchanged, jobless rate rises

Euro-zone inflation unchanged, jobless rate rises (by William L. Watts)

FRANKFURT (MarketWatch) -- Annual inflation in the 17-nation euro zone was 3% in November, unchanged from the previous month, the European Union statistics agency Eurostat reported Wednesday. The figure matched forecasts. The European Central Bank's inflation target is near but just below 2%. The ECB cut its key lending rate earlier this month, saying it expected inflation to fall back over the course of next year. Separately, Eurostat said the region's seasonally-adjusted unemployment rate rose to 10.3% in October from 10.2% in September. The rate is the highest since June 1998, analysts said.