Eurozone inflation accelerated to 2.2% in September, exceeding the European Central Bank's target of 2%, according to Eurostat data. The price increase was due, in particular, to energy, which confirms expectations that the ECB will not cut interest rates this year. This was reported by Euractiv, writes UNN.
Details
Core inflation, which excludes volatile prices for energy, food, alcohol, and tobacco, remained at 2.3%. Service prices rose from 3.1% in August to 3.2% in September. At the same time, energy costs decreased slightly by 0.4%, and the growth in prices for food, alcohol, and tobacco slowed to 3.0%.
Inflation in the largest EU economies also showed growth: in Germany, it reached 2.4%, in France – 1.1%.
Experts note that the current level of inflation reinforces the ECB's intention to maintain current interest rates, and only a significant exceeding of forecasts can prompt the regulator to review them.
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