According to CoinMeta, Christine Lagarde, the President of the European Central Bank, stated in an interview with the Japanese Yomiuri Shimbun that in October, Europe's overall inflation rate was 4%, which is higher than expectations from a few months ago, but in line with market forecasts. The high inflation is mainly attributed to rising energy prices, affected by conflicts in the Middle East and a decline in global refining capacity, with the energy inflation rate rising from 18.9% in September to 20.8%. Food inflation rates also increased, but fundamental indicators remain stable. The core inflation rate, excluding energy, food, alcohol, and tobacco, is 2.5%. The inflation rate in the service sector rose slightly to 3.3%. Lagarde pointed out that inflation figures are expected to remain high in the coming quarters, and the higher and longer the inflation rate persists, the greater the risk to medium-term targets.