The numbers all came in above forecasts and hit multi-year highs.

The increases were driven in large part by energy prices as the Middle East conflict continues to disrupt oil and gas markets. The ECB has raised rates twice this year, bringing its deposit rate to 2.5% in September.

The next step is considered more challenging as it could push rates from the upper end of neutral into restrictive territory, where they begin to slow economic activity.

Higher rates are also lifting government borrowing costs. Sovereign yields have reached their highest levels since the 2012 debt crisis, adding pressure to public finances.

France has seen the steepest increase in its borrowing cost among eurozone member states as investors demand an additional premium for holding its debt, given massive fiscal and political uncertainty in the run-up to French presidential elections.

The level could still rise should investors be disappointed by the hotly awaited budget announcement in Paris on Thursday.

Eurostat will release inflation numbers for the 21-nation euro zone as a whole on Friday.