Eurozone inflation reached 9.9% in September while UK consumer prices hit 10.1% amid rising food costs.
Amid high political drama in the UK, inflation continues to dominate investor concerns as data released this week showed the eurozone inflation rate hitting 9.9% and the UK’s 10.1% on the back of soaring food prices.
In the US, the consumer price index (CPI) rose to 8.2% in September, according to data released last week. Stubbornly high consumer prices will add to pressure on the US Federal Reserve – which increased its policy rate by 75bps for the third consecutive time last month – to continue with aggressive monetary tightening.
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