Eurozone Inflation Soars to Three-Year High on Middle East War

September saw a significant spike in Eurozone inflation, reaching a three-year high of 3.8%.

The figure, published by the European Union's statistical office, is up from 3.2% in August and surpasses the European Central Bank's two-percent target.

This rise in inflation can be attributed to the ongoing war in the Middle East, which has disrupted fuel supplies through key energy trade routes such as the Strait of Hormuz.

Energy prices surged by 18.8%, while food and drinks inflation increased to 1.4% from 1.1% in August.