Eurozone Inflation Accelerates to 3.8 Percent in September, Highest in Three Years

Eurozone annual inflation accelerated to 3.8 percent in September 2026, up from 3.2 percent in August and above the market forecast of 3.6 percent, according to Eurostat's preliminary estimate. The reading is the highest since September 2023 and remains well above the European Central Bank's 2 percent target. Turkey's Daily Sabah reported on Friday, 10 Mehr 1405 (October 2, 2026) that the figure topped analyst expectations.

Per Eurostat, the main driver was a sharp rise in energy prices amid continued fighting in West Asia; energy inflation jumped to 18.8 percent, its highest level since January 2023. Services inflation rose to 3.2 percent from 3.0 percent, and unprocessed food inflation rose to 4.0 percent from 2.7 percent; core inflation, excluding energy and food, rose to 2.5 percent from 2.4 percent. Among the euro area's largest economies, inflation accelerated to 3.3 percent in Germany, 3.4 percent in France, 5.0 percent in Spain and 4.1 percent in Italy.