Economy Inflation in the eurozone below two percent for the first time in a long time
Inflation in the eurozone fell below two percent in September for the first time in a long time. Consumer prices rose by 1.8% compared to the same month last year.
01.10.2024, 14:17
SDA
This is the lowest level since April 2021, according to an initial estimate released by the statistics office Eurostat in Luxembourg on Tuesday. In August, the inflation rate was still at 2.2 percent. The European Central Bank (ECB) is aiming for an inflation rate of two percent in the medium term.
The significant fall in inflation can be explained by the development of energy prices. They fell by six percent year-on-year. Service prices, on the other hand, rose particularly sharply by four percent.
Core inflation, excluding volatile prices for energy, food and luxury foods, fell slightly in September. It fell by 0.1 percentage points to 2.7%. Core inflation reflects underlying inflation and, in the opinion of many economists, better represents the inflation trend than the overall rate.
