STORY: Euro zone inflation surged more than expected in October.

That’s according to Eurostat data.

Inflation in the 19 countries sharing the euro accelerated to 10.7% in October.

That’s up from 9.9% a month earlier.

It’s fuelled expectations that the European Central Bank will press on with big interest rate hikes.

Eurostat also estimated that the euro zone’s GDP rose overall - despite slowing sharply from the previous quarter.

Saying there had been a 2.1% year-on-year rise.

Some economists think that leaves scope for the ECB to do more big increases before a recession kicks in.

The ECB has raised rates a combined 200 basis points over the past three months.

And has promised more hikes as soon as December.

The surging inflation and slowing growth are mainly a result of Russia’s invasion of Ukraine.

Which has driven up energy prices and broader costs.