Eurozone inflation hits 2.2%, highest since April
Annual inflation in the euro area accelerated to 2.2% in September, up from 2.0% in August, according to a flash estimate released Wednesday.
The figure marks the highest level since April and pushes consumer price growth above the European Central Bank’s 2% target, News.Az reports, citing foreign media.
Among inflation’s key drivers, services led the pack with a 3.2% annual increase, up slightly from 3.1% in August, according to statistics body Eurostat, the statistical office of the European Union. Food, alcohol and tobacco prices rose by 3.0%.
Goods prices rose by 0.8%, while energy was 0.4% cheaper than a year ago.
The reading was in line with economist expectations. On a month-on-month basis, prices edged up 0.1%, mirroring August's figure.
Core inflation, which excludes volatile food and energy prices, held steady at 2.3% for the fifth month running, offering reassurance that underlying price pressures are not gaining momentum, even as headline figures rise.
Although Wednesday's figures means inflation now sits above the European Central Bank’s (ECB) forecast of 2%, it is still lower than in the UK where inflation was 3.8% in August.
Estonia posted the highest inflation rate at 5.2%, followed by Croatia and Slovakia at 4.6% each. At the other end of the spectrum, Cyprus recorded no annual change, and France saw a mild increase of 1.1%.
Meanwhile, Italy and Portugal led with price increases of 1.3% and 1.0% respectively, suggesting some localised acceleration.
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