Eurozone inflation rises to 3.8% in September

Brussels, Oct 2 (KUNA) -- Preliminary data released by Eurostat, the statistical office of the European Union, on Friday showed that the annual inflation rate in the eurozone rose to 3.8 percent in September, up from 3.2 percent in August. The data indicated that energy prices recorded the highest annual increase in September at 18.8 percent, compared to 14.3 percent in August. Services prices rose by 3.2 percent, compared to 3 percent previously. Food, alcohol, and tobacco prices increased by 1.4 percent, compared to 1.1 percent, while industrial goods excluding energy rose by 1.1 percent, down from 1.2 percent. This sharp rise in the eurozone’s inflation rate, which covers 21 countries, significantly exceeds the European Central Bank’s target of 2 percent. Core inflation, which excludes volatile energy and food prices, also rose to 2.5 percent in September, up from 2.4 percent in August. Meanwhile, inflation in food and beverage prices reached 1.4 percent in September, compared to 1.1 percent in August. The eurozone’s inflation rate last exceeded 3.8 percent in September 2023, when it stood at 4.3 percent. (End) Arn / T.M.A