Euro inflation rises to 4.1%, hitting a new 13-year high in October

Euro zone inflation hit a new 13-year high in October, as the currency bloc battles surging energy costs, adding to the European Central Bank’s challenge in battling increasingly aggressive market bets for interest-rate hikes.

Consumer prices rose 4.1 per cent in October, compared with the median of economist estimates at 3.7 per cent, according to figures released by Eurostat on Friday. A measure stripping out volatile components such as food and energy climbed to 2.1 per cent, a rate not seen in nearly two decades. 

On the eve of the data, ECB President Christine Lagarde attempted to push back on investor bets