A faster-than-expected inflation jump across the eurozone’s biggest economies raises the odds that the European Central Bank will hike interest rates again this year to bring price growth down to target. The move would add to economic headwinds and sovereign borrowing costs at a time when governments are already grappling with the highest yields since the 2012 sovereign debt crisis. Wednesday’s preliminary data showed inflation in Germany jumped to 3.3% in September, from 2.9% in August. In France, inflation jumped to 3.4% from 2.6%, and in Italy to 4.1% from 3.2 percent. Spain reported inflation of 5% on Tuesday, up from 4.6%. The numbers all came in above forecasts and hit multi-year highs.
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