Prices – inflation in the euro area rises to 13-year high – economy

Inflation in the euro area rose even more sharply than expected in September. Consumer prices climbed 3.4 percent within a year, as the European statistics agency Eurostat announced on Friday. This is the highest value since September 2008. Experts had only expected an increase of 3.3 percent. The price of energy rose particularly sharply, with costs soaring by 17.4 percent compared to the same month last year. Industrial goods were 2.1 percent more expensive, excluding the energy sector. Groceries, alcohol and tobacco also went up by 2.1 percent. The European Central Bank (ECB) is aiming for an inflation rate of 2.0 percent in the medium term. In July, inflation was 3.0 percent, well above the ECB target.