Photo: Stephanie LeBlanc, UnsplashPhoto: Stephanie LeBlanc, UnsplashEuropean Union
Eurozone inflation rises to 4% in October, a three-year high
Energy-driven price growth now runs at twice the ECB's 2% target, which bears on interest rate policy and household costs across the bloc.
What happened
Eurozone annual inflation rose to 4% in October from 3.8% in September, according to Eurostat's flash estimate. Euronews+1 The reading is the highest since September 2023, when inflation ran at 4.3%. Euronews+1 Prices rose 0.4% in October alone compared with the previous month. Euronews Core inflation, which strips out energy, food, alcohol and tobacco, held steady at 2.5%. Euronews The result matched economists' expectations of 4%. Euronews+1
Around it
Soaring energy bills kept pushing up the cost of living across the bloc, and the gap between headline and core inflation shows energy is doing most of the work. Euronews Prices are now rising at twice the pace of the European Central Bank's 2% target, which supports the case for interest rates to be raised further. Euronews+1 Italy saw the biggest jump among member states, while Germany bucked the trend. Euronews
Sources
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