The Euro zone Consumer Price Index rose 10% year-on-year in preliminary September reading, exceeding the 9.1% of August and the 9.7% expected. This is the highest inflation recorded by the indicator since the creation of the euro zone.
The monthly inflation has increased by 1.2%as estimated, above the previous 0.6%, being the biggest increase seen in six months.
The annual core CPI has also shot up to all-time highs, standing at 4.8% in September, above the previous 4.3% and the 4.7% expected by experts.
EUR/USD reaction
The EUR/USD it has dropped just over 15 pips after the data, slipping towards the vicinity of 0.9820. Previously, the pair had hit a one-week high at 0.9853. At time of writing, the euro is trading against the dollar above 0.9823, 0.08% above its opening price.
Source: Fx Street
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