Year-on-year inflation hit 4.1 percent in October, more than double the European Central Bank’s target and tying the record rate last seen in July 2008, as energy prices jumped 23.5 percent, the agency said.
But analysts warned that global supply problems look set to put the brakes on growth just as the eurozone was bouncing back from the pandemic-incuded downturn. “Growth will be much slower in the final quarter as supply chain disruption, slowing global demand and some labour shortages hamper production.”
The increase was less then analysts had expected as German manufacturers wrestled with a lack of raw materials, including plastics, metals and paper.
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