European Union

Euro-zone inflation rises to 4% in October, a three-year high

Higher energy costs pushed consumer prices up at twice the European Central Bank's target, strengthening the case for further rate rises.

Photo: Euronews

What happened

Euro-zone inflation rose to 4% in October, its highest level since September 2023, according to a flash estimate from Eurostat. Euronews+1 Annual inflation climbed from 3.8% in September, in line with the 4% economists had expected. Euronews+1 Prices rose 0.4% in October compared with the previous month. Euronews Core inflation, which excludes energy, food, alcohol and tobacco, held steady at 2.5%, matching forecasts. Euronews

Around it

Soaring energy bills were cited as the main driver of the increase across the bloc. Euronews Italy recorded the biggest jump in prices, while Germany bucked the trend. Euronews The rate of price increases is now double the European Central Bank's 2% target, which Bloomberg reported supports the case for raising interest rates further. Bloomberg

Sources

  1. EuronewsEurozone inflation hits 4%: Where prices jumped the most (opens in a new tab)
  2. BloombergEuro-Zone Inflation Accelerates to Double the ECB’s Target (opens in a new tab)

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