Euro zone inflation rises to three-year high
Core inflation held at 2.5% as energy costs drove the euro zone’s annual rate to 4.0%, the highest since September 2023, Eurostat said.
- Eurostat reported that inflation in the 21 nations sharing the Euro rose to 4.0% in October, hitting a three-year high driven by expensive energy costs.
- The war in Iran has pushed energy costs higher, fueling inflation as the bloc imports the vast majority of its energy, causing indirect effects that will linger.
- Food inflation accelerated to 4.6%, while Services inflation reached 3.3% and industrial goods rose to 1.2%; a more closely watched 'core' figure held steady at 2.5%.
- The European Central Bank left rates unchanged last week, yet influential German and Italian policymakers signaled another rate move is now likely in December.
- Financial markets now anticipate two to three rate hikes to the ECB's 2.5% deposit rate over the coming year as inflation remains above the 2% target.
121 Articles
121 Articles
Prices have risen by 4 per cent in the 21 countries that have adopted the single currency, the fault of the upsurge in energy prices since the war in the Middle East triggered by the United States and Israel.
Eurozone inflation accelerated to 4 percent in October, exactly double the European Central Bank's (ECB) target. The rise in consumer prices was driven primarily by a surge in energy prices, and due to unfavorable developments, central bank decision-makers are increasingly indicating that another interest rate hike may be needed in December, Bloomberg reported.
Eurozone inflation rose to 4.0 percent in October, its highest level in three years. The war in the Middle East has led to a sharp rise in energy prices, according to official figures published today. Inflation in the 21 countries that use the euro was 3.8 percent in September. It is still well above the European Central Bank's two percent target. The figure for October was...
The inflation in the euro area now stands at four percent. The Bundesbank head now believes that the European Central Bank is likely to raise interest rates in the near future.
Prices in the euro area in October were 4% higher than a year earlier, according to Eurostat’s provisional data. In September, the annual increase had been 3.8%. With those two tenths more, inflation reached its highest level since September 2023.
Coverage Details
Bias Distribution
- 34% of the sources lean Left, 34% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
