$EUIRYY -CPI (September/2024)
EUIRYY (Eurozone Inflation Data; September/2024)source: EUROSTAT
- Annual inflation rate in the Eurozone fell to 1.8% in September 2024, the lowest since April 2021, compared to 2.2% in August and forecasts of 1.9%, preliminary estimates showed.
Inflation is now below the ECB target of 2%.
Prices fell much more for energy (-6% vs -3%) and inflation slowed for services (4% vs 4.1%) while prices for food, alcohol and tobacco increased slightly more (2.4% vs 2.3%).
Meanwhile, core inflation rate also eased to 2.7% from 2.8%.
Among the bloc's largest economies, inflation slowed in Germany (1.8% vs 2%), France (1.5% vs 2.2%), Italy (0.8% vs 1.2%), Spain (1.7% vs 2.4%).
The ECB expects inflation to rise again in the latter part of 2024, partly because previous sharp falls in energy prices will drop out of the annual rates.
Inflation should then decline towards 2% over the second half of 2025.
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