BELGIUM – The European Central Bank said on Thursday that the euro zone’s inflation rate rose to 5,500 euros ($5,880) in September from 5,400 euros in August, a sharp increase from its forecast of 5,300 euros.
The rate was above the 5,000-euro benchmark, which was the central bank’s target for inflation.
The ECB also raised its key inflation target to 2%, which is its goal for inflation in the coming years.
It expects inflation to reach 5.2% in 2018.
France’s inflation jumped to 566 euros in September, while Germany’s rose to 464 euros.
France has a 2.5-percent unemployment rate.
Germany’s rate is 2.7%.
The ECB said in a statement that “a gradual improvement in inflationary pressures is possible in the medium term.”