Eurozone Inflation Soars Amid Energy Crisis

Inflation rates in France and Italy have surged to three percent and four point two percent respectively in September, driven by skyrocketing energy costs due to the Middle East war.

The annual inflation rate in France reached its highest level since February 2024, up from 2.4% in August, according to official data from Insee statistics office.

In Italy, inflation jumped nearly a full percentage point above the previous month's rate of 3.3%, as reported by Istat agency.

The price hikes far exceed the European Central Bank's target of two percent, increasing expectations that interest rates will be raised further in the coming months to combat inflation.