Eurozone Inflation Surges to Three-Year High Amid Energy Price Hikes

The Eurozone inflation rate has reached a three-year high of 3.8% in September, driven by a significant jump in energy costs.

This increase was higher than expected and is largely attributed to rising fuel and power prices, which rose to 18.8% from 14.3%. This development puts pressure on the European Central Bank (ECB) as it prepares for its October 28-29 meeting.

The core inflation rate, which excludes volatile items like energy and food, also increased to 2.5% from 2.4%, but at a slower pace than the headline figure.