Inflation Mars Mood Amidst E.U.'s Oil Ban, Eurozone's CPI Record, France's Inflation Spurt

E.U.'s proposed partial ban on Russian oil and the resultant surge in crude oil prices, triggered fears of a fuel-led inflation that dominated market sentiment. Adding to the fear was data showing Eurozone CPI jumping more than expected to a record high of 8.1 percent. Inflation data from France and Austria too showed multi-decade high readings.