Annual inflation in the eurozone decreased to 4.3 percent in September
Final data announced in the euro area confirmed that annual inflation decreased to 4.3 percent in September.
The European Statistical Office (Eurostat) has announced the final data for September on price increases in the Euro Zone.
Consequently, annual inflation in the eurozone, which was 5.2 percent in August, decreased to 4.3 percent in September.
In the euro area, the CPI rose 0.3 percent in September compared to the previous month.
THE DECREASE IN ANNUAL INFLATION IS IN ITS 6TH MONTHS
The final data confirmed previously published preliminary data. It should be noted that annual inflation decreased for 6 consecutive months.
The eurozone’s core inflation rate, calculated excluding food and energy, fell from 5.3 percent in August to 4.5 percent in September.
Energy prices decreased 4.6 percent in September compared to the same period last year.
THE HIGHEST INFLATION IS IN FOOD AT 8.8 PERCENT
Looking at the main components of inflation, the highest annual inflation was recorded in food, alcohol and tobacco products at 8.8 percent. Food was followed by services at 4.7 percent and non-energy industrial products at 4.2 percent.
According to EU-compatible data, inflation in September was 9 percent in Slovakia, 7.4 percent in Croatia, 7.1 percent in Slovenia, 5.7 percent in Austria and France, 5 .6 percent in Italy and 4 percent in Germany.
EVEN IF IT FALLS, IT IS STILL FAR FROM THE ECB’S TARGET
It should be noted that, although inflation in the eurozone has decreased, it is still well above the target of the European Central Bank (ECB).
The ECB had been forced to raise key interest rates 10 times in a row in a few months to combat high inflation.
While the ECB is targeting 2 percent inflation, the bank’s management has repeatedly stressed that it will decide to raise interest rates further if the data situation requires it.
Last year, inflation at times reached double digits due to the impact of the war between Ukraine and Russia.
Some analysts have noted that a significant weakening of inflation in the region could persuade the ECB to keep interest rates stable, ending a long cycle of interest rate increases. (AA)