Eurozone inflation accelerated to a three-year high in October on higher energy prices, reinforcing expectations for another interest rate hike. Inflation increased to 4% in October from 3.8% in September, flash data from Eurostat showed on Wednesday. Inflation matched economists' expectations and hit the highest level since September 2023, when the rate was 4.3%. Core inflation, which excludes prices of energy, food, alcohol and tobacco, remained unchanged at 2.5% in October. Month-on-month, the harmonized index of consumer prices (HICP) posted a 0.4% rise, compared with a 0.6% increase in September. Energy prices posted the most significant annual increase within the HICP, climbing 20.8%. This was followed by services inflation, which rose to 3.
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