Euro zone inflation rises to 4.1% for October, hitting a new 13-year high
Euro zone inflation hit a new 13-year high in October, as the currency bloc battles surging energy costs.
Headline inflation came in at 4.1% for this month, according to preliminary data from Europe’s statistics office Eurostat. This was the highest level since July 2008, according to Reuters data, and was ahead of a consensus forecast of 3.7%.
The rise has been driven higher by surging energy prices, deepening concern among policymakers. What’s more, this record run in energy prices is not expected to end any time soon, with energy analysts warning market nervousness is likely to persist throughout winter.
Reference: CNBC
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