The ECB seem to have lost control of the Eurozone money supply. Therefore, it shouldn't be surprised that inflation is accelerating.
"Bloomberg - Money-supply growth in the euro region held at the fastest pace in 28 years in November, adding to the European Central Bank's inflation concerns. M3 money supply, which the ECB uses as a gauge of future inflation, grew 12.3 percent from a year earlier, unchanged from October, the Frankfurt-based central bank said today. That's the highest rate since July 1979. "