Eurozone Sept inflation confirmed at 2.2% but core rate ticks up

(Sharecast News) - Eurozone inflation was confirmed at 2.2% in September, according to official data published on Friday.

The rise, reported in a flash estimate released at the start of the month, pushed prices above the European Central Bank's 2.0% target for the first time in five months. The core inflation rate, which excludes energy, food, alcohol and tobacco, ticked up 0.1% to 2.4%.

The harmonised consumer price index (CPI) for the single-currency region compared with 1.7% in September 2024.

A significant easing of energy price deflation had a big impact on September's figures, with energy prices falling by just 0.4% after a 2.0% year-on-year fall in August. Meanwhile, service-sector inflation accelerated to 3.2% from 3.1%.

Food, alcohol and tobacco prices were 3.0% higher than last year, with price growth easing from 3.2% in August, while non-energy industrial goods inflation was unchanged at 0.8%.

Reporting by Frank Prenesti for Sharecast.com