Will the pace of eurozone inflation accelerate?
Eurozone inflation is expected to reach a 13-year high in September, boosted by surging energy costs and strong demand as economies reopened.
Data due on Friday will show an annual rise of 3.5 per cent in the eurozone consumer price benchmark, predicts Chiara Zangarelli, an economist at Nomura. If so, that will be the most rapid inflation since July 2008. It would also mark an increase from August’s decade high of 3 per cent, and put the inflation figure well above the European Central Bank’s 2 per cent target.
Soaring European gas prices are contributing to the rise in consumer inflation, as severe shortages have prompted escalating concerns about a supply crunch in the colder season.