Eurozone Inflation September 2016


Eurozone inflation rises to near two-year high

Inflation rose to an almost two-year high in September, providing some evidence that the European Central Bank’s monetary stimulus is bearing fruit. According to a flash estimate released by Eurostat on 30 September, harmonized inflation was 0.4% in September. The result was in line with market analysts’ expectations and above August’s 0.2% reading.

According to Eurostat, the main contributors to September’s reading were higher prices for services and for food, alcohol and tobacco. Core inflation remained stable at 0.8% in September. Month-on-month price variations and a more detailed set of data will be provided on 17 October.

FocusEconomics Consensus Forecast participants see inflation in the Euro area averaging 0.3% in 2016, which is unchanged from last month’s forecast. For 2017, panelists expect inflation to average 1.3%.

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