(Eurostat) Annual inflation in the euro area is projected to have jumped by 3.4% in September, up from 3.0% in August. Inflation is the highest since September 2008, driven by the rising energy prices.
Fig: Euro Area Annual Inflation
Energy’s annual inflation rose by 17.4%, more than a gain of 15.4% in August. Non-energy industrial goods surged 2.1%, a lower gain than 2.6% in August.
Food, alcohol & tobacco posted a 2.1% inflation rate, up from 2.0% in August, as services ticked higher to a rate of 1.7% from 1.1% in August.
Markets react. EURUSD is up +0.22%, DAX is down -0.18%
