Eurozone inflation rose to 4% in October, its highest level in more than three years, as soaring energy bills kept pushing up the cost of living across the bloc. The flash estimate from Eurostat showed annual inflation climbing from 3.8% in September, exactly in line with the 4% economists had expected. Prices rose 0.4% in October alone compared with the previous month. It is the highest reading since September 2023, when inflation ran at 4.3%. It also means prices are now rising at twice the pace of the European Central Bank's 2% target. Core inflation, which strips out energy, food, alcohol and tobacco because their prices swing sharply from month to month, held steady at 2.5%. That also matched forecasts.
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