Euro Area Annual Inflation Hits 3.8% in September, Energy Prices Soar

The euro area annual inflation rate rose to 3.8% in September from 3.2% in August, according to a flash estimate from Eurostat.

Energy prices saw the largest increase, with an annual rate of 18.8%, up from 14.3% in August.

Serviced inflation increased to 3.2% from 3.0% and food, alcohol, and tobacco prices climbed to 1.4% from 1.1%.

Non-energy industrial goods saw a decrease in inflation rates, falling to 1.1% from 1.2%, while core inflation excluding energy, food, alcohol, and tobacco rose to 2.5% from 2.4%.