Eurozone Inflation Edges Up in September
(MENAFN) Annual consumer price growth across the eurozone climbed to 2.2% in September, rising from 2% in August, as revealed by final figures published on Friday by Eurostat.
This result aligned with early market predictions and continued to exceed the European Central Bank’s (ECB) medium-term inflation goal of 2%.
The most significant upward influence on inflation came from services, which saw a 3.2% year-on-year increase in September.
This was closely followed by rises in the prices of food, alcohol, and tobacco, which went up by 3%, and non-energy industrial goods, which registered a 0.8% uptick.
Conversely, energy prices represented the largest downward force on inflation, posting a 0.4% annual decline.
The underlying inflation rate — which omits the more erratic categories of food and energy — advanced by 2.4% compared to the same month the previous year.
This marked a slight increase from 2.3% in August and also came in above expectations.
Among EU member states, Romania recorded the highest yearly inflation rate in September at 8.6%, followed by Estonia at 5.3%, while both Latvia and Slovakia stood at 4.6%.
On the opposite end, the Greek Cypriot Administration experienced no annual inflation, registering 0%, while France recorded 1.1%, and both Greece and Italy reported 1.8%.
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