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Eurozone inflation accelerates to 3.8%, highest in three years
According to Eurostat data, eurozone inflation rose to 3.8% year-on-year in September, up from 3.2% in August — the highest level in three years and the third consecutive month of acceleration. Energy prices are the main culprit, jumping 18.9% year-on-year and adding 1.71 percentage points to the overall index. Services added another 1.52 percentage points. The result confirmed the preliminary estimate and exceeded economists' expectations; the ECB's inflation target is 2%.
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