Financial News: Eurozone Inflation Unrevised At 2.2%

Eurozone Inflation Unrevised At 2.2%

(RTTNews) - Eurozone inflation accelerated as initially estimated in September to the highest level in five months, the latest estimate from Eurostat showed on Friday.

Inflation rose to 2.2 percent in September from 2.0 percent in August. That was in line with the flash data published on October 1. Moreover, a similar higher rate was last seen in April.

Core inflation, which excludes prices of food and energy, increased slightly to 2.4 percent in September from 2.3 percent in August. In the flash estimate, the inflation rate was stable at 2.3 percent.

Data showed that the growth in food, alcohol, and tobacco prices eased to 3.0 percent from 3.2 percent, while services inflation rose to 3.2 percent from 3.1 percent.

Energy prices logged a decrease of 0.4 percent, much slower than the 2.0 percent decrease in August. At the same time, non-energy industrial goods prices registered a stable growth of 0.8 percent.

On a monthly basis, the harmonized index of consumer prices edged up 0.1 percent in September, as estimated.

The European Central Bank had last lowered its interest rates in June, when they were cut by a quarter-point. The bank had reduced rates by 25 basis points each in every rate-setting session since September last year.

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