Eurozone inflation rose to 3.8% in September — CNBC
According to CNBC, annual inflation in the eurozone accelerated to 3.8% in September. This is the highest figure since September 2023. The reading also exceeded market expectations.
Higher-than-forecast figure
In August, annual inflation in the eurozone stood at 3.2%, while the market had forecast 3.6% for September. Thus, the actual September figure was 0.6 percentage points higher than the August level and exceeded the forecast by 0.2 percentage points.
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The September level was also above the European Central Bank's 2% target. The difference between actual inflation and the ECB target was 1.8 percentage points. Core inflation stood at 2.5% in September and matched market expectations.
Impact of energy prices
CNBC attributes the acceleration in inflation to a sharp rise in energy prices. According to the outlet, the ongoing conflict in the Middle East caused this increase. Core inflation was meanwhile 1.3 percentage points lower than the overall inflation rate.
