Eurozone inflation downwardly revised by Eurostat

The annual inflation rate in the Eurozone was revised down to 1.7% for September 2024, slightly lower than the initial estimate of 1.8% and a significant drop from 2.2% in August.

Eurozone inflation downwardly revised by Eurostat

This marks the lowest inflation rate since April 2021 and brings inflation below the European Central Bank's (ECB) target of 2%. The deceleration was driven by a notable slowdown in services inflation (3.9% from 4.1%) and a sharper decline in energy costs (-6.1% vs -3%).

However, inflation for non-energy industrial goods remained stable at 0.4%, while food, alcohol, and tobacco prices rose slightly faster (2.4% compared to 2.3%).

Core inflation also eases

The core inflation rate, which excludes volatile items like energy, food, alcohol, and tobacco, also eased to 2.7% from 2.8%, aligning with the preliminary estimates. These figures highlight a cooling inflation environment, offering relief amidst ongoing economic challenges in the Eurozone.