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Eurozone inflation at highest rate since 2008

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The annual inflation rate in the European countries that use the euro hit its highest level since 2008 in September, with EU statistics agency Eurostat revealing that inflation came in at 3.4% last month, up from 3% in August. The inflation level was driven up by a 17.4% increase in energy prices. While the European Central Bank and some analysts say the recent surge in inflation is temporary and will ease next year, other economists are less optimistic, with Luigi Speranza of BNP Paribas saying “there are high chances that this inflation is less transitory” than central banks are suggesting.

 

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