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Euro zone inflation rises to three-year high
Energy costs drove euro zone inflation to 4.0%, while core prices held at 2.5% and markets raised bets on another European Central Bank hike.
- 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.
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64 Articles
64 Articles
Observador+2 Reposted by 2 other sources
The euro area's homologous inflation rose by 2 percentage points compared to September. Energy prices rose most annually: 20.8%, compared to 18.9% in September.
·Lisboa, Portugal
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(Berlin=Yonhap News) Correspondent Kim Gye-yeon = Due to a surge in energy prices originating from the Middle East, the consumer price inflation rate in the Eurozone (21 countries using the euro) reached its highest level in three years last month...
·Seoul, Korea (the Republic of)
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berlingske.dk+2 Reposted by 2 other sources
The increase in inflation is related to the conflict in the Middle East, which has led to higher energy prices.
·Copenhagen, Denmark
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Total News Sources64
Leaning Left4Leaning Right12Center8Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 17%
C 33%
R 50%
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