Euro-Zone Inflation Quickens, Backing ECB Caution on Rates (1)

Euro-area inflation accelerated in September, cementing the European Central Bank’s plans to keep interest rates steady for now.

Having matched the 2% goal in August, consumer prices rose 2.2% from a year ago on energy base effects and services costs. That’s in line with the median estimate in a Bloomberg poll of economists.

A measure of underlying pressures excluding volatile energy and food costs held at 2.3% as expected, Eurostat said Wednesday.

ECB officials are contentwith where borrowing costs are after their latest quarterly projections showed inflation not deviating excessively from the target and the region’s 20-nation ...