Eurozone Inflation Hits Three-Year High as Growth Beats Forecasts - News and Statistics - IndexBox

According to the EU statistics agency, eurozone inflation climbed to a three-year peak of 3.8% in September, far exceeding the European Central Bank's 2% objective. The agency said the rise was driven primarily by higher costs for energy, food and transport, Euronews reported . The inflation figure coincided with official data released Friday showing the eurozone economy outperformed expectations in the third quarter, proving resilient despite the Middle East war and soaring energy expenses. Economists noted that growth in the single currency bloc held up strongly but cautioned about possible stagflation, a dreaded combination of weak growth and elevated inflation. The EU statistics agency said GDP across the 21-nation euro area rose 0.