Eurozone Inflation Soars to 3.8%, ECB Acts

The eurozone's inflation rate surged to 3.8% in September, surpassing August's rate by six tenths of a percentage point.

This marks the highest rise since September 2023, when the increase was 4.3%. Energy prices skyrocketed by 18.8%, compared to 14.3% in August, while fresh food rose by 4%, up from 2.7% the previous month.

The European Central Bank (ECB) hiked interest rates by 25 basis points to 2.5% at the beginning of September, responding to inflationary pressure. ECB President Christine Lagarde justified the move, stating that a 'measured response is appropriate to keep inflation under control.'