Inflation in the 21 countries that use the euro increased to 3.8% in September. This is the level in three years. The rise was caused by an increase in fuel prices.
The EU statistics agency said that eurozone inflation was 3.2% in August. The number for September was also higher than the 3.7% that economists had predicted.
Fuel prices went up 18.8% compared to the month last year. In August, fuel prices had gone up 14.3%. This increase also caused inflation for food and non-alcoholic drinks to go up from 1.1% to 1.4%.
Core inflation, which does not include items that change a lot, like energy and food, went up to 2.5% in September. This was an increase from 2.4% in August.
The eurozone had inflation above 3.8% in September 2023. At that time, it was 4.3%.
The latest increase in inflation has made it harder for the European Central Bank. The bank wants to keep inflation at 2%. The rise in fuel prices could make it hard for the bank to decide what to do with interest rates.
Iran has kept the Strait of Hormuz closed since March. The country said this was in response to a war that it said was imposed by Israel and the United States. This important waterway for oil and gas shipments has been a reason for fuel shortages and big increases in energy prices.
