BERLIN—A senior European Central Bank official says that raising interest rates prematurely could “choke off the recovery,” comments that come as inflation in the 19-nation euro area has hit a record rate.
The European Union’s statistical office said on Jan. 7 that the annual inflation rate rose to 5 percent in December—the highest level in the eurozone since recordkeeping began in 1997, breaking the previous record of 4.9 percent from November.
