Annual inflation in the eurozone rose to 3.8% in September, CNBC reported. The reading topped market expectations of 3.6% and marked the highest level since September 2023.
Price growth in the eurozone had stood at 3.2% in August, meaning inflation accelerated notably in September. The latest figure also remains well above the European Central Bank’s 2% target.
Core inflation, which typically excludes the most volatile components, came in at 2.5%. That figure was fully in line with preliminary estimates.
The faster rise in consumer prices is linked to a sharp increase in energy costs. According to the source, the ongoing conflict in the Middle East is the main driver behind that move.
