2019.10.1609:24:00UTC+00Eurozone September Inflation Revised Lower

Eurozone inflation eased more than initially estimated in September, latest data from Eurostat showed Wednesday.

Inflation slowed to 0.8 percent in September from 1 percent in August. Price growth was initially estimated at 0.9 percent.

This was the lowest inflation since November 2016, when the rate of price growth was 0.6 percent.

Headline inflation remained well below the European Central Bank's target of "below, but close to 2 percent."

Core inflation that excludes volatile energy, food and alcohol and tobacco, rose to a three-month high of 1 percent from 0.9 percent in August. The initial estimate was thus confirmed. Energy prices declined 1.8 percent annually after easing 0.6 percent. Price increase in food, alcohol and tobacco eased to 1.6 percent from 2.1 percent.

Non-energy industrial goods prices growth slowed to 0.2 percent from 0.3 percent. Meanwhile, services cost accelerated to 1.5 percent from 1.3 percent.

On a monthly basis, consumer prices gained 0.2 percent and core prices advanced 0.4 percent in September.