Eurozone inflation rises to 2.2 percent in September

Brussels – Bad news for households and consumers: inflation in the eurozone is on the rise again and is expected to stand at 2.2 percent in September, up from August levels (2 percent), according to preliminary data released by Eurostat today (1 October). Expectations for the cost of living were undoubtedly affected by the rise in services (3.2 percent compared to 3.1 percent in August) and energy (-0.4 percent compared to -2 percent in August). Non-energy industrial goods, on the other hand, were stable (0.8 percent). In contrast, general foodstuffs there was a slowdown for food (3 percent, compared to 3.2 percent in August).

Inflation for food and groceries becomes a contentious issue, as the European Statistical Institute claims that costs are decreasing, while the European Central Bank argues the opposite, assessing the trend of this specific item with a new level of concern.

At the Member State level, inflation in September is expected to rise in all major eurozone economies, namely Germany (2.4 percent, +0.3 percentage points compared to August figures), France (1.1 percent, +0.3 percentage points), Italy (1.8 percent, +0.2 percentage points), and Spain (3 percent, +0.3 percentage points). The highest rates are expected in Estonia (5.2 percent), Slovakia and Croatia (both 4.6 percent), and Latvia (4.1 percent). 

However, these are preliminary data, which are subject to change. On October 17, Eurostat will release final data, providing a more precise and comprehensive picture of the situation. It is also based on these figures that the European Central Bank will base its monetary policy decisions at the meeting of the Governing Council scheduled for the end of the month, on October 30.