French inflation hit 3% in September from a year earlier, largely due to a surge in energy and fuel costs, the INSEE statistics office said on Wednesday, September 30. The spike represents a sharp increase from the 2.4% recorded in August and well above the European Central Bank's inflation target of 2%. Energy inflation climbed to 21.2% in September after a 16.7% rise the previous month, the INSEE said. Diesel prices, in particular, have hit record highs in France and several other eurozone countries in recent weeks, as a result of the Middle East war, which has slowed Gulf shipments of both crude oil and refined fuels.
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