Consumer prices in the 19 countries that use the euro currency soared at a record rate, led by a surge in food and energy costs, figures showed Friday.

       Inflation rose to 5 per cent in December compared with a year earlier, according to Eurostat, the European Union's statistical office. That is the highest level in the eurozone since recordkeeping began in 1997, breaking the record of 4.9 per cent only just set in November.

       Euro zone economic sentiment dropped more than expected last month while inflation hit another record high, indicating the economy is under renewed stress as surging coronavirus infections force governments to tighten restrictions.

       With infections breaking records almost daily as the Omicron variant sweeps across Europe, growth is likely to take a hit around the turn of the year even though governments have largely avoided the debilitating measures that brought their economies to a standstill a year ago.

       Consumer prices in December jumped 8.6 per cent from a year earlier, compared with 7.8 per cent in November, preliminary data showed on Friday. The reading was above a median of 8.2 per cent in a Bloomberg survey of 23 economists.