Euro zone inflation jumps to 3% as economic growth almost stalls - CNBC

Annual inflation in the euro area jumped to 3% while economic growth has almost stalled, driven largely by energy costs. That broader inflation backdrop is relevant to U.S. policy: Kashkari’s expectation of a rate hike this year links rising global energy-driven prices to increased odds of tighter Fed policy and helps explain recent moves in bond markets. Higher inflation abroad can amplify domestic price pressures and influence central bank communication and market pricing.