Inflation rates jumped in France and Italy in September as energy and fuel costs soared because of the Mideast war, official data showed Wednesday. The annual rate hit three percent in France, the highest since February 2024 and a sharp increase from 2.4 percent in August, statistics office Insee said. In Italy inflation jumped to 4.2 percent, nearly a full percentage point above the 3.3 percent recorded in August, the Istat agency reported. The price hikes are well above the European Central Bank's inflation target of two percent, raising the likelihood it will raise interest rates further.
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