Just caught the latest inflation numbers from Eurostat and the picture's getting clearer. The eurozone's annual inflation jumped to 2.6% last month, which is a noticeable bump from February's 1.9%. That's also higher than where we were a year ago at 2.2%.

What's interesting is how fragmented Europe is on this. The EU-wide annual inflation hit 2.8%, but you've got Denmark sitting pretty at just 1.0% while Romania's dealing with 9.0% - that's a massive gap. Croatia and Lithuania are also running hot at 4.6% and 4.4% respectively. Most countries saw their annual inflation numbers creep higher compared to the month before.

So the trend is pretty clear - price pressures are building across the board. Whether this sticks or starts cooling off will be something to watch closely. The divergence between countries also shows how uneven the recovery's playing out.