Euro Area: Inflation rises in September from August
Latest reading: Harmonized consumer prices increased 2.2% on a year-on-year basis in September, following a 2.0% increase in the previous month. The reading was the highest in seven months and was above the ECB’s 2.0% target.
Relative to the previous month’s data, there were higher price pressures for energy (-0.4% yoy vs -2.0% in August) and services (+3.2% vs +3.1% in August). In contrast, price pressures reduced for food, alcohol and tobacco in September (+3.0% vs +3.2% in August). Finally, the variation in non-energy industrial goods prices was the same as in the prior month (+0.8% in September and August).
Meanwhile, core consumer prices increased 2.3% on a year-on-year basis in September, stable from the prior month’s reading.
Lastly, harmonized consumer prices rose 0.09% in September in month-on-month terms, stable from the previous month’s reading.