Headline annual inflation in the euro area climbs to 4% in October, hitting that mark for the first time since September 2023. Now, that's a doozy for ECB policymakers. The culprit is once again higher energy prices, with energy inflation accelerating to 20.8% in October this year compared to the same month last year. Even on a monthly basis, energy prices were seen pushing up significantly in rising by 1.4%. That being said, there were broad increases across all monthly estimates as headline prices went up by 0.4% on the month in October. The breakdown shows food prices being up 0.4% on the month and services also up 0.2% on the month. The only good news is that core annual inflation is seen holding steady at 2.5% in October.
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