Euro Zone Inflation Hits 3-Year High Amid Energy Cost Pressures

The European Central Bank is facing pressure to raise interest rates as inflation in the Euro Zone is expected to reach its highest level since 2023. According to a Bloomberg survey of economists, consumer prices rose 3.7% from a year earlier in September, up from 3.2% in August.

The increase is driven by energy costs, which are being affected by ongoing Middle East tensions. Separate gauges for Germany, France, Italy, and Spain are also predicted to show similar quickening of inflation rates.