Eurozone inflation moderates to 4.3% in September

Thus, the year-on-year increase in the cost of living in the eurozone and the EU in the month of September was above the 3.7% observed in the United States, but substantially below the 6.7% recorded in the United Kingdom. United.

The evolution of prices in the euro zone was mainly due to the deepening of the fall in the cost of energy, with a drop of 4.6%, compared to the decline of 3.3% in August, while the rise in the price of fresh foods moderated to 6.6% from 7.8%.

Likewise, in the case of services, prices rose by 4.7% year-on-year, eight tenths less than in the eighth month of the year, while non-energy industrial goods became six tenths less expensive than the previous month, with a rise of 4.1%.

By excluding the impact of energy from the calculation, the year-on-year inflation rate in the euro zone in September stood at 5.5%, compared to 6.3% the previous month, while also leaving out the impact of price of food, alcohol and tobacco, the core inflation rate moderated to 4.5% from 5.3%.

In this way, the underlying inflation reference in the eurozone, considered by the European Central Bank (ECB) as one of the keys to follow when setting its monetary policy, stood in September at the lowest level since August 2022.

Among the Twenty-seven, the lowest annual inflation rates were recorded in the Netherlands (-0.3%), Denmark (0.6%) and Belgium (0.7%), while the largest price increases were observed in Hungary (12.2%), Romania (9.2%) and Slovakia (9%).

In the case of the large economies of the euro zone, harmonized inflation stood at 4.3% in Germany and 5.7% in France, while in Italy it was 5.6% and 3.3%. %, in Spain.

In this way, the rise in Spain's harmonized inflation rate from 2.4% in August to 3.3% in September, together with the moderation of the eurozone average, reduced the price differential favorable to the Spanish economy to one percentage point, compared to 2.8 the previous month.