Lates News

German inflation reached its highest level in nearly three years, adding further pressure on the European Central Bank to raise interest rates. German consumer prices rose 3.3% year-on-year in September, above the median economist forecast of 3.2%. Rising energy prices were the main factor driving the acceleration in inflation. Germany's domestic measure of underlying price pressure remained unchanged at 2.4%. Earlier, France, Italy and Spain all reported unexpectedly strong headline inflation data; among them, Spain's inflation rate has risen to 5%, driven by a surge in fuel costs triggered by the conflict in Iran. Eurozone-wide inflation data is scheduled to be released on October 2, with economists expecting a sharp rebound to 3.7%.