Sky-high energy costs fuel inflation pain across Europe - Daily Sabah

Inflation rose far quicker than expected in some of the eurozone's biggest ‌economies in September, as energy costs soared because of the Middle East war, official data showed Wednesday, boosting expectations for further interest rate hikes. The annual rate hit 3.3% 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 3% in the month compared to a year earlier, the highest since February 2024 and a sharp increase from 2.4% in August, the statistics office Insee said. In Italy, inflation jumped to 4.2%, nearly a full percentage point above the 3.3% recorded in August, the Istat agency reported.