Euro Zone Inflation Hits 4%, Raising Odds of an ECB Rate Hike

Euro zone inflation climbed to 4% in October, increasing pressure on the European Central Bank (ECB) to raise borrowing costs again and bringing its December decision into focus for global markets and crypto investors. The flash estimate put inflation at its highest level since September 2023, up from 3.8% in September. Energy inflation reached 20.8%, compared with 18.9% the prior month, driving much of the increase. Every euro zone country recorded inflation above the ECB’s 2% target. The ECB kept its key rate at 2.5% in October after a 25-basis-point increase in September.

Source: TokenPost