Inflation in the eurozone is accelerating and faster than expected, rising to its highest level in 13 years, and the debate over how long the inflation surge will last after the crisis is set to intensify.

The consumer price index rose 3.4% in September and is expected to rise 3.3%, according to data released by Eurostat on Friday. Core inflation, which excludes volatile food and energy, rose 1.9 per cent, the highest level since 2008.

Prices are mainly driven by epidemic-related factors and economic restart. The ECB is expected to peak later this year and begin to slow in 2022.

But manufacturing supply chain bottlenecks have lasted longer than many initially expected, and surveys show that companies are increasingly trying to pass on rising costs to consumers to protect profit margins. The deterioration of energy shortages is also adding to the pressure.

Energy prices rose 1.3% in September and climbed more than 17% in the past year. The price of non-energy industrial products rose 2.3% month-on-month.