Eurozone inflation climbs to 3.8% in September
Inflation in the eurozone climbed to a new three-year high in September, driven by soaring energy prices caused by the conflict in the Middle East, according to official data published Friday, Belga News Agency reports.
Prices across the 21 countries that share the euro accelerated to 3.8 per cent, up from 3.2 per cent in August, according to an initial estimate from Eurostat, nearly doubling the European Central Bank (ECB) target.
Inflation for energy goods reached 18.8 per cent.
In Belgium, inflation was estimated at 4.6 per cent last month, up 0.4 percentage points from August.
Earlier, Qazinform News Agency reported that the U.S. Federal Reserve had raised its benchmark interest rate by 25 basis points, marking its first rate increase in more than three years as the central bank seeks to curb persistent inflation.
