Eurostat, the statistical office of the European Union, released preliminary estimates just a few moments ago showing that annual inflation in the eurozone rose to 2.2% in September, compared to 2.2% in August, matching market expectations.
The largest contribution to inflation in September came from the services sector, which rose to 3.2% from 3.1% in August. The food, alcohol, and tobacco sector also rose, rising by 3% from 3.2% in August. The non-energy industrial goods index remained unchanged at 0.8%, while the energy index continued to decline, falling by -0.4% from -2% in August.
The core index, which excludes food and energy prices, remained unchanged for the fourth consecutive month at 2.3%, as expected.