Inflation moderated more than expected in September in the euro area

By: Trademagazin Date: 2023. 09. 29. 12:38

In September, the annual inflation rate in the euro area moderated more than expected – the statistical office of the European Union, Eurostat, announced on Friday as non-final data.

Annual inflation in the euro area fell from 5.2 percent in August to 4.3 percent, the lowest since October 2021, in September. The average of expert expectations was 4.5 percent. The drop in energy prices accelerated to 4.7 percent in September after the 3.3 percent drop in August.

The prices of food, alcoholic beverages and tobacco products rose the most in September, by 8.8 percent, which is a slowdown after the 9.7 percent increase in August. The price of services also increased at a slower pace, by 4.7 percent after the 5.5 percent registered in August.

Compared to the previous month, prices in the euro area increased by 0.3 percent in September, and a 0.5 percent increase was recorded in August.