Like the situation in France and Germany, inflation throughout the euro zone slowed more than expected in September…
(Boursier.com) — Like the situation in France and Germany, inflation throughout the euro zone slowed more than expected in September. According to initial data from Eurostat, the annual inflation rate in the region is estimated at 4.3% over the month, compared to 5.2% in August, and 4.5% consensus. Inflation had not been this ‘low’ for almost two years.
Regarding the main components of inflation, food, alcohol & tobacco should experience the highest annual rate in September (8.8%, compared to 9.7% in August), followed by services (4. 7%, compared to 5.5% in August), industrial goods excluding energy (4.2%, compared to 4.7% in August) and energy (-4.7%, compared to -3, 3% in August), details Eurostat. Sequentially, prices showed an increase of 0.3%.
Annual ‘core’ inflation should stand at 4.5% after 5.3% in August and against a consensus of 4.8%.
These data are good news for the ECB even if price strength remains significantly higher than the European Institution’s objective.
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