Eurozone inflation hit a 13-year high in September as the bloc struggles with rising energy costs.
According to preliminary data from the European statistical office Eurostat, core inflation hit 3.4% last month. This is the highest level since September 2008, when inflation stood at 3.6%. This comes after German consumer prices rose 4.1% in September, the highest level in almost 30 years.
The rise has been driven higher by increasing energy costs, extending worry and anxiety among policymakers.
The front-month gas cost at the Dutch TTF center point, an European benchmark, has risen to almost 400% since the beginning of the year.
This record run in energy costs isn’t expected to end any time soon, as energy analysts warn that market nervousness is probably going to continue all through the winter.
France, Italy, Greece and Spain have come up with some policies to address the price increments.
