Eurozone Inflation Accelerates As Estimated In September

Eurozone inflation rose as initially estimated in September, final data from Eurostat revealed on Wednesday.

Inflation advanced to 3.4 percent in September from 3.0 percent in August. In the same period last year, prices were down 0.3 percent.

The rate matched the preliminary estimate published on October 1. This was the highest rate since September 2008.

Core inflation that excludes energy, food, alcohol and tobacco, increased to 1.9 percent, as initially estimated, from 1.6 percent in the previous month.

On a monthly basis, the harmonized index of consumer prices gained 0.5 percent, in line with flash estimate.

The annual inflation was largely driven by the sharp 17.6 percent increase in energy prices.

Among other components, food, alcohol and tobacco prices were up 2.0 percent and non-energy industrial goods prices grew 2.1 percent. Prices of services rose 1.7 percent.

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