Business news from Ukraine

Business news from Ukraine

Inflation in eurozone increased by 10%

30 September , 2022  

Consumer prices (HICP index) in the euro area in September increased by 10% in annual terms, according to preliminary data from the Statistical Office of the European Union.

Thus, inflation accelerated compared to 9.1% in August and updated the maximum since the beginning of the calculations.

Analysts polled by Trading Economics had expected a less significant increase of 9.7%.

The current inflation rate is five times the European Central Bank’s (ECB’s) target of 2%.

Consumer prices excluding food and energy increased by 4.8% in annual terms in September compared to 4.3% in the previous month.

The cost of energy resources soared by 40.8% (in August – by 38.6%). Food, alcohol and tobacco rose in price by 11.8% (by 10.6%), industrial goods – by 5.6% (by 5.1%), services – by 4.3% (by 3.8%) .

Consumer prices excluding food and energy (CPI Core index) this month increased by 4.8% in annual terms against 4.3% in August.

The growth of consumer prices in the euro area in September amounted to 1.2% compared to the previous month. In August, this figure increased by 0.6%.

The lowest inflation was recorded in France (6.2% in annual terms), Malta (7.3%), Finland (8.4%) and Ireland (8.6%). The most significant rise in prices occurred in Estonia (24.2%), Latvia (22.4%) and Lithuania (22.5%).

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