Germany's inflation rate rose to 3.3% in September, higher than expected

Germany's inflation rate has reached its highest level in nearly three years, adding further pressure on the European Central Bank to raise interest rates. In September, German consumer prices rose by 3.3% year-on-year, exceeding the median forecast of economists at 3.2%. The surge in energy prices is the main factor driving the acceleration of inflation. The domestic indicator measuring underlying price pressure in Germany remained unchanged at 2.4%. Previously, France, Italy, and Spain all reported unexpectedly strong overall inflation data; among them, Spain's inflation rate has climbed to 5% due to soaring fuel costs triggered by the conflict in Iran. The overall inflation data for the Eurozone is scheduled to be released on October 2, with economists expecting inflation to rebound sharply to 3.7%.