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Eurozone inflation accelerating more than expected

EURUSD News by Newsroom on 05:59 November 06, 2017 EST
Prices at the factory gate hiked 2.9 percent year-over-year in September, after a 2.5 percent increase in August. Economists had expected inflation to rise to 2.8 percent.

The latest rate of growth was the most abrupt since May, when prices grew at 3.4 percent.

The increase is mainly due to the rising cost of energy as producer price inflation held steady at 2.2 percent.

Month-on-month, producer prices went up 0.6 percent from August, after an increase by 0.3 percent on that moth. That was above the expected rise of 0.4 percent.

The largest increases were registered in northern and eastern european countries and the United Kingdom