Energy costs spark inflation surge across Europe - starcitytv.com

Inflation accelerated more than expected in Germany, France and Italy in September as energy costs soared because of the Middle East war, official data showed Wednesday, boosting expectations for further eurozone interest rate hikes. The annual rate hit 3.3 percent in Germany, Europe's biggest economy, the fastest pace since December 2023, according to preliminary data from the statistics agency Destatis. In France consumer prices rose three percent in the month compared to a year earlier, 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.