Inflation Flag Hits Level Seen When ECB Last Hiked Rates 

(Bloomberg) -- Global shortages are driving German producer prices higher at the fastest pace since 2011 -- when the European Central Bank raised euro-zone interest rates to prevent surging energy and commodity costs causing broader inflation that harms the economy. This time is different, with policy makers determined to keep adding monetary stimulus to allow the region to heal from its pandemic slump. Output across the 19-nation bloc is still below pre-crisis levels, and the ECB insists that the current price pressures are temporary.

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