Eurozone Inflation Rises to Three-Year High of 3.8% in September
Inflation in the euro zone reached 3.8% year-on-year in September, marking its highest level since early 2021 and surpassing both market expectations (3.6%) and the European Central Bank’s target rate of 2%. This increase follows a reading of 3.2% recorded in August. The rise was primarily driven by surging energy prices linked to ongoing tensions in the Middle East, which have disrupted global supply chains and increased costs for consumers and businesses alike. Core inflation—excluding volatile food and energy items—remained stable at 2.5%, aligning with forecasts.
Topics: energy prices euro zone European Central Bank inflation