Eurozone Inflation Hits New Heights Amid Energy Price Surge

Inflation in the Eurozone's largest economies accelerated more than forecasted in September due to rising energy prices driven by tensions in the Middle East.

Economists had anticipated a reading of 3.2% in Germany, but consumer prices instead rose 3.3%. In France, inflation exceeded forecasts at 3.4%, while in Italy it increased from 3.3% to 4.2%

Oxford Economics analyst Rory Fennessy estimated that average inflation across the 21-country bloc would likely be close to 4% by year's end.