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Saturday
Sep172011

Oktoberfest Begins Amid Euro-Zone Inflation 

Hemera Technologies/Thinkstock(MUNICH) -- Raise a glass—Oktoberfest has begun, but not without a price.

Amid euro-zone inflation, Munich mayor Christian Ude tapped the keg in Munich Saturday at 12 p.m. local time, marking the beginning of the 178th annual beer festival that lasts 17 days.

The Wall Street Journal reports that Oktoberfest inflation, measured by the cost of transportation, a liter of beer and half a grilled chicken, is expected to rise 3.3 percent from 2010.

The rising cost is above the European Central Bank’s 2 percent target for euro-zone inflation, according to UniCredit economist Alexander Koch.

Oktoberfest is the world’s largest beer fest.

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