Euro-Zone Inflation at Double-Digit Record Piles Pressure on ECB
- Consumer prices rose 10% from year ago in September; est. 9.7%
- Data will inform ECB officials before October rate decision
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The euro zone’s economic crisis intensified with the first ever reading of double-digit inflation, piling pressure on the European Central Bank to keep raising interest rates aggressively.
Consumer prices surged 10% from a year ago in September, data from Eurostat showed Friday. That’s more than the median forecast of 9.7% in a Bloomberg survey of economists, and marks the fifth straight month the result has exceeded consensus.