Eurozone Stagflation Fears Deepen as Retail Sales Plunge 0.7%

Eurozone retail sales fell 0.7% in September, significantly worse than expected, as consumer demand continues to weaken.
Germany led the decline, with retail sales collapsing 2.0%, dragging down the entire Eurozone average.
Meanwhile, energy prices and inflation continue to rise, adding further pressure on consumers.
The ECB faces a difficult balancing act between a weakening economy and accelerating inflation, while higher interest rates could put even more pressure on economic activity.