Market Updates
Eurozone Inflation Accelerates to 10% In September
Brian Turner
30 Sep, 2022
New York City
European markets traded lower after the release of eurozone inflation data.
Consumer prices rose at the fastest annual pace 10.0% in September after rising at 9.3% in August, the Eurostat said Friday.
The inflation rate in September increased to 1.2% from the previous month
Inflation accelerated for the fifth month in a row and show no signs of easing, raising pressure on the central bank to lift rates.
Food, tobacco and beverages prices accelerated to 11.8% from 10.6% in August, energy prices rose 40.8% from 38.6% and services increased 4.3% from 3.8%.
Among the larger member countries in the eurozone, Germany recorded the largest inflation rate of 10.9% in September from 8.8% in September, followed by Italy with 9.5% compared to 9.1% but the rate slowed in France to 6.2% from 6.1% and in Spain to 9.3% from 10.5%.
Prices in Estonia, Latvia and Lithuania surged between 22% and 24.5% in the month on an annual basis.
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