Eurozone Inflation Jumps to Record 10% in September

The annual inflation in the Eurozone reached a new high of 10% in September, an increase of 0.9% from August and the highest level ever for the common European currency, according to Eurostat’s preliminary report published on Friday.

The rise also higher than a consensus for a 9.7% rise.

Energy prices were the main culprit, rising 40.8% over a year ago. The inflation rate for non-energy industrial goods increased by 5.6% on a yearly basis, while the inflation rate for food, alcohol, and tobacco rose 11.8%. Inflation in the service sector surged 4.3%.

Comparing Eurozone member states, Estonia had the largest annual inflation rate increase in September, at 24.2%, while France had the lowest, at 6.0%.