Frankfurt The inflation rate in the euro area continued to rise in September. Consumer prices increased by 10.0 percent compared to the same month last year. This was announced by the European statistical office Eurostat on Friday. Inflation was 9.1 percent in August.
The European Central Bank (ECB) is actually aiming for a value of two percent for the currency area. Inflation has continued to move away from this mark since mid-2021. This intensifies the pressure on the central bank to raise interest rates further.
After a first step in July, the ECB raised the key interest rate by 0.75 percentage points to 1.25 percent in September. This was the largest interest rate move in its history. ECB President Christine Lagarde has also signaled further increases for the coming months.
More: Inflation in Germany rises to its highest level since 1951
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