![\"\"](\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2022\/11\/Chart-of-the-week-1811-Blog-300x156.png\")
<\/p>\nWhile the eurozone\u2019s inflation surge (+10.6% since October 2021) is mainly driven by soaring prices in energy (+59.2% year-on-year) and food (+15.5%), the explanation does not end there. Inflation excluding food and energy is also particularly strong at 5.0%. An increasing share of goods and services are displaying high price rises: the year-on-year increase for almost 60 out of 94 categories exceeded 4%.<\/p>\n
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Some categories are rising in line with energy prices. Transport services, for example, are now up 7.5% year-on-year. However, prices in less energy dependent sectors are also gaining significant pace. Prices in the furniture and furnishings category of housing, which had never increased by more than 2.0% year-on-year, are currently up by 8.5%. Prices in categories that depend relatively heavily on labour costs are also accelerating sharply, with services related to recreation and personal care up 6.1%.<\/p>\n
Clearly, energy prices are not the only contributor to eurozone inflation and the fact that rapid price growth has become broad-based heightens the risk of runaway inflation expectations, a situation that the ECB will be attempting at all costs to avoid.<\/p>\n
The opinion expressed above is dated November 18th, 2022 and is subject to change.<\/p>\n
See also: https:\/\/latribune.lazardfreresgestion.fr\/en\/bank-loans-are-back-in-favour-with-european-companies\/<\/p>\n
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This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Fr\u00e8res Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Fr\u00e8res Gestion SAS. LAZARD FRERES GESTION \u2013 a simplified joint stock company with share capital of \u20ac14,487,500 \u2013 Paris Trade and Companies Registry No. 352 213 599. 25, RUE DE COURCELLES \u2013 75008 PARIS, FRANCE<\/p>\n","protected":false},"excerpt":{"rendered":"
Chart of the Week While the eurozone\u2019s inflation surge (+10.6% since October 2021) is mainly driven by soaring prices in… <\/p>\n","protected":false},"author":101016,"featured_media":18859,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[148],"tags":[1940,1971],"class_list":["post-18864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chart-of-the-week","tag-inflation-en","tag-usa-en"],"yoast_head":"\n