Eurozone inflation hits its highest level in three years at 3.8%
- Inflation across the 21 nations sharing the Euro currency jumped to 3.8% in September, exceeding the 3.6% forecast, driven primarily by soaring fuel and natural gas costs, Eurostat reported.
- Soaring energy prices driven by the ongoing Middle East conflict fueled the surge. This upward pressure keeps the European Central Bank under significant strain to address price instability.
- A closely watched 'Core' figure, which excludes volatile fuel and food prices, picked up to 2.5% from 2.4%, reflecting higher services prices. Eurostat data showed this underlying trend on Friday.
- The European Central Bank faces intensified pressure to raise interest rates as headline inflation sits well above its 2% target. Economists anticipate up to three additional hikes in the coming year.
- Persistent energy costs could trigger second-round effects, feeding into electricity and business expenses, Economists warn. Policymakers must navigate these mounting inflationary risks while managing broader economic stability.
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287 Articles
Inflation in the eurozone rose to the highest level in three years in September.
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Inflation is once again moving away from the level desired by the European Central Bank. What is pushing prices up? Listen to the new episode of the Economy day by day, daily podcast of the Express led by Juliana Simões
The annual inflation rate in the eurozone increased by six tenths in September, to 3.8 per cent, its highest level since September 2023, according to the advanced data...
(Brussels=Yonhap News) Correspondent Hyun Yoon-kyung = Inflation in the Eurozone (21 countries using the euro) soared to its highest level in three years last month due to soaring energy prices.
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