Broader Inflationary Pressures Appearing in Eurozone
Dow Jones
2 hours ago
1225 GMT - While the jump in eurozone inflation is still mainly driven by energy prices, broader inflationary pressures mount with energy prices set to stay elevated, ING's Bert Colijn says in a note. Inflation was 3.8% in September, the highest since 2023. Despite oil prices remaining somewhat below peaks in 2022 and this spring, Euro 95 petrol prices have reached an all-time high, weighing significantly on the inflation basket, he says. Now with food inflation ticking higher to 1.4% from 1.1% in August, and core inflation rising to 2.5% from 2.4%, there seems to signs of increased pass-through to other inflation categories, albeit this is very preliminary, Colijn says. The ECB still has work to do, he adds.
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