Euro-area inflation continued to accelerate in September mainly due to higher energy and food inflation. As the broader price pressures are still rather moderate, we stick to our quarterly profile for the ECB rate hikes. Euro-area flash inflation increased from 3.3% to 3.8% in September. That was faster than expected by the consensus (3.6%), though expectations have likely adjusted to some extent after higher national data. The far largest reason for the acceleration was energy price inflation which increased from 14.3% to 18.8% and is now the biggest contributor to headline inflation. Also food price inflation ... ( full story )
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