Europe’s inflation is up after months of decline. It could mean a longer wait for interest rate cuts

By DAVID McHUGH
AP Business Writer

FRANKFURT, Germany (AP) — Inflation is on the rebound in Europe. The European Union’s statistics agency said Friday that consumer prices rose 2.9% on a yearly basis in December. It’s the first increase after seven straight months of declines. High food prices contributed, and there was the end of energy subsidies in Germany and France that had lowered prices a year ago. The rebound in inflation could make the European Central Bank wait a few more months before cutting interest rates for the 20 countries that use the euro currency.