Eurozone inflation hits three-year high in October - Qazinform

Inflation in the eurozone accelerated to 4% in October, its highest level in three years, as energy prices surged amid the conflict in the Middle East , according to Eurostat’s flash estimate published Wednesday, Qazinform News Agency reports, citing Belga News Agency . The October figure was the highest since September 2023. The annual inflation rate across the 21 countries using the euro rose from 3.8% in September to 4% in October. Energy prices climbed 20.8%, up from 18.9% in September. Food inflation also edged up to 1.6% from 1.3%, while services inflation rose to 3.3% from 3.2%. Jack Allen-Reynolds, an economist at Capital Economics, said the indirect effects of higher energy costs on food prices remained very limited.