Eurozone: Detailed figures reveal lower inflation
October 16, 2012
According to detailed figures for September, consumer prices rose 0.7% over the previous month, which was up from the 0.4% rise recorded in August and marked the second increase in a row. Despite the monthly rise, annual headline inflation was unchanged at August's 2.6%, which is below the 2.7% flash estimate released by Eurostat on 28 September. The core inflation index, which does not include prices for energy, also rose 0.7% over the previous month (August: +0.2% mom). However, annual core inflation moderated from 1.7% in August to 1.6% in September. At a country level, 11 out of the 17 Eurozone economies posted annual inflation rates equal or above the regional average. Estonia (4.1%) and Slovakia (3.8%) recorded the highest annual inflation rates. At the other end of the spectrum, inflation was lowest in Greece (0.3%) and Germany (2.1%). Among the other major Eurozone economies, France (2.2%) recorded an inflation rate below the regional average in September, while inflation was above the regional average in Italy (3.4%) and Spain (3.5%).
Author: Armando Ciccarelli, Head of Data Solutions