Eurozone Posts 2.2 Percent Increase in September Inflation
(MENAFN) Annual inflation across the eurozone edged higher to 2.2% in September, up from 2.0% in August, according to final figures published Friday by Eurostat, the European Union's statistics agency.
The reading aligns with earlier forecasts and remains above the European Central Bank’s (ECB) medium-term inflation goal of 2%.
Price increases were driven most significantly by the services sector, which surged 3.2% year-on-year. Food, alcohol, and tobacco followed, rising 3%, while non-energy industrial goods saw a more modest increase of 0.8%.
By contrast, energy prices exerted downward pressure, declining 0.4% annually — making them the only major category to post a negative contribution.
The core inflation rate, which strips out the more volatile components such as food and energy, rose to 2.4% from 2.3% in August, exceeding analyst expectations once again.
Among member states, Romania recorded the highest annual inflation at 8.6%, followed by Estonia at 5.3%, with Latvia and Slovakia each posting 4.6%.
At the other end of the spectrum, the Greek Cypriot Administration registered the lowest inflation at 0%. France followed at 1.1%, while both Greece and Italy reported inflation of 1.8%.
Month-on-month, the euro area’s consumer price index rose 0.1%, mirroring August’s increase.
The eurozone, or EA20, comprises the 20 European Union countries that have adopted the euro as their official currency.
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