French, Italian Inflation Quickens But Stays Below ECB Target

Inflation in France and Italy accelerated this month but remained below the European Central Bank’s 2% target, with the data unlikely to prompt a shift away from steady interest rates.

French consumer prices rose 1.1% — up from 0.8% in August on services costs and smaller declines in energy prices than a year ago. Italy’s came in at 1.8%, dragged beyond the previous month’s 1.6% increase due to food and beverage prices.