2023.10.1811:22:00UTC+00Eurozone Inflation Eases As Estimated In September

Eurozone inflation slowed to the lowest level in nearly two years in September after the sharp monetary policy tightening.

The harmonized inflation came in at 4.3 percent in September, well below 5.2 percent posted in August, final data from Eurostat showed on Wednesday.

The statistical office confirmed the flash estimate published on September 29. The latest inflation figure was the weakest since October 2021, when the rate stood at 4.1 percent.

Excluding volatile energy, food, alcohol and tobacco, core inflation softened to 4.5 percent, as initially estimated, from 5.3 percent in the previous month.

Month-on-month, the harmonized index of consumer prices posted a 0.3 percent gain, in line with the preliminary estimate.

The European Central Bank has raised its benchmark rate for ten consecutive meetings since July last year. The rate was lifted by a cumulative 400 basis points.

The ECB Staff had projected inflation to slow to 3.2 percent next year from an estimated 5.6 percent in 2023.