Eurozone inflation hits record high in three years - VOV World

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[VOVWORLD] - Eurozone inflation rose to 4% in October, a three-year high, and twice the European Central Bank's (ECB) target. The increase was driven primarily by a sharp rise in energy prices amid the ongoing conflicts in the Middle East, adding pressure on the ECB to further tighten monetary policy. The preliminary estimate from Eurostat showed annual inflation climbing from 3.8% in September to 4% in October. Energy remained the biggest driver of inflation, with prices rising 20.8% year-on-year, up from 18.9% in September. In France, inflation rose from 3.4% in September to 3.8% in October. Meanwhile, Spain recorded an inflation rate of 4.9%, Greece 5.6% and Lithuania 6.1%, making them among the eurozone economies with the highest inflation rates.