Eurozone inflation reaches new record level
Energy prices are still main driver but eurozone’s core goods inflation also rose
Year-on-year inflation in the eurozone reached a new record high of 10% in September, according to official statistics released today (September 30).
Energy prices remained the main factor boosting the harmonised index of consumer prices (HICP). Energy prices increased by 40.8%, primarily due to Russia’s invasion of Ukraine and the reduced supply of gas into the eurozone.
This new record is likely to reinforce those on the European Central Bank governing council who support a fast tightening
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