Inflation across the 21 countries using the euro rose to 4.0% in October, up from 3.8% in September, Eurostat’s flash estimate showed. It is the highest rate in three years. Energy prices surged 20%, while core inflation—which excludes food and energy—held at 2.5%, suggesting broader price pressures have not yet spread. The European Central Bank kept rates unchanged last week, but policymakers have signaled a December increase may be needed. Markets are weighing further tightening as the energy shock continues.
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