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%).
Consumer prices in the euro area in June increased by 8.6% in annual terms, according to the final data of the Statistical Office of the European Union.
The indicator is the maximum since the beginning of the data calculation.
Thus, inflation in the region accelerated compared to 8.1% in May.
The final data coincided with the preliminary ones. Analysts polled by Trading Economics also did not expect a revision in the preliminary estimate.
The growth of consumer prices compared to the previous month amounted to 0.8%, as in May.
Inflation is over four times the European Central Bank’s (ECB’s) target of 2%. The next meeting of the ECB will take place on Thursday, and it is likely that as a result of it, key interest rates will be raised immediately by 50 basis points, and not by the expected 25 bp.
According to Eurostat, energy resources jumped in price by 42% compared to June last year. Food, alcohol and tobacco increased in price by 3.7%, manufactured goods – by 4.3%, services – by 3.4%.
Consumer prices excluding food and energy rose 3.7% year-on-year last month from 3.8% in May.
In the European Union, inflation in June accelerated to 9.6% in annual terms from 8.8% in May.
The lowest inflation in the EU was recorded in Malta (6.1%), France (6.5%) and Finland (8.1%), the highest – in Estonia (22%), Lithuania (20.5%). ) and Latvia (19.2%).
