Inflation in the euro zone rises two tenths in October to 4%
The annual inflation rate for the euro zone increased by two tenths in October compared to September, to 4%, driven by the rise in energy prices, according to the first estimate published this Wednesday by the European statistical office Eurostat.
The annual inflation rate in the eurozone rose to 4% in October, driven by a 20.8% increase in energy costs. This marks the highest level since September 2023 and supports arguments for the European Central Bank (BCE) to raise interest rates at its December meeting. Inflation also increased in services, food, alcohol, and tobacco, and industrial goods. The inflation rate varied across major economies, with Germany seeing a decrease to 2.8%, while Italy and France saw increases to 5.6% and 3.8% respectively.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
