Eurozone Inflation September 2018


Eurozone: Inflation inches up in September

October 17, 2018

According to complete data released by Eurostat on 17 October, harmonized inflation came in at 2.1% in September, matching the preliminary estimate. The result was slightly above August’s 2.0% and marked one of the highest readings seen in the past two years. Inflation sits just above the European Central Bank’s target rate of near, but below, 2.0%. Higher price pressures for food, alcohol and tobacco products, as well as energy costs drove September’s uptick.

Annual average inflation was unchanged at August’s 1.6% in September. Meanwhile, core inflation edged down to 1.1% from August’s 1.2%. On a monthly basis, harmonized consumer prices rose 0.5% in September, above August’s 0.2% increase.

Among the countries in the common-currency bloc, Estonia (3.5%) and Latvia (3.3%) experienced the highest inflation. On the flipside, Ireland (1.3%) and Greece (1.1%) recorded the lowest inflation. Regarding the largest economies in the Eurozone, inflation edged down in France (2.5%) and Italy (1.5%) but rose in Germany (2.2%) and Spain (2.3%).

Eurozone Inflation Forecast

FocusEconomics Consensus Forecast participants see inflation in the Euro area averaging 1.6% in 2018. For 2019, panelists expect inflation to also average 1.6%.


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Eurozone Inflation Chart

Euro Inflation September 2018

Note: Year-on-year and month-on-month var. of harmonized consumer price index (HICP) in %.
Source: Eurostat

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