French Inflation Tops Expectations as Energy Prices Climb

French inflation came in higher than expected in September, driven mainly by lingering energy-price pressure that could influence European Central Bank decisions at its next meeting. Consumer prices rose 3.4% year over year, up from 2.6% in August, according to France’s statistics agency Insee, using EU-adjusted measures. Economists surveyed by The Wall Street Journal had expected 3.1%. Energy costs jumped 21% versus September last year, up from 17% in August, after fuel prices rose amid escalating Middle East tensions. Services inflation and food prices also increased. ECB officials recently lifted the key rate and said they couldn’t “look through” oil and gas jumps. Investors are split on a possible hike on Oct. 29, as Spain and Belgium reported above-target inflation.