Upward pressure on consumer pressures has spread from energy to engulf the whole euro-zone economy, according to European Central Bank Executive Board member Isabel Schnabel. “What we are seeing is that the inflationary pressures have become much more broad-based,” Schnabel said Thursday evening in Luxembourg. “They have somehow crept into all parts of the economy.” Soaring consumer prices have prompted Schnabel and her colleagues to lift interest rates more rapidly than many expected at their last two meetings -- despite a worsening economic backdrop. Officials are walking what Vice President Luis de Guindos on ... (full story)