Eurozone Inflation Surges Amid Energy Price Shock
Inflation surged across the eurozone in September, pushing pressure on the European Central Bank (ECB) to increase interest rates further. The latest data shows that inflation rose faster than expected in several key economies, including France, Italy, and Spain.
According to the source, France's harmonised inflation rate was 3.4 per cent year-on-year in September, up from 2.6 per cent in August. In Italy, the inflation rate jumped to 4.1 per cent from August's 3.2 per cent, both figures exceeding the ECB's 2 per cent target.
The energy price shock caused by the Iran war has had a significant impact on inflation rates across the eurozone. Natural gas, petrol, and diesel prices have all soared, leading investors to sharply increase their rate hike bets in recent weeks.