Inflation in Europe reached 9.9 %

The interannual inflation index showed a historical record in the month of September, presenting an acceleration of eight tenths

The year-on-year inflation rate in the euro area stood at 9.9 % last September, which marks a new historical record and represents an acceleration of eight tenths compared to that registered in August, although it is one tenth below the first estimate of 10 % published by Eurostat, according to the second reading of the data made by the community statistical office.

In the case of the European Union (EU) as a whole, the year-on-year inflation rate for September accelerated to 10.9% from 10.1 % corresponding to the month of August.

In September there was a general rise in prices in the eurozone, so the increase is not attributable to a single figure. Energy prices, still the main drivers of the rate, grew by 40.7 % in the ninth month of the year, compared to the 38.6 % rise observed in August.

However, fresh food prices increased by 12.7 %, which represents an acceleration of 1.7 points compared to the 11 % rise in the previous month. Services registered an inflation of 4.3 %, five tenths more; while non-energy industrial goods accelerated four tenths, up to 5.6 %.

When excluding the impact of energy from the calculation, the year-on-year inflation rate in the eurozone stood at 6.4 % in September, compared to 5.8 % in the previous month, while also excluding the effect of prices of fresh food, alcohol and tobacco, the core inflation rate reached a record 4.8 %, five tenths more than in August.

In the month of September, eleven of the nineteen countries in the eurozone registered double-digit inflation rates, while among the Twenty-seven there were a total of 18 countries that registered rises in the cost of living of at least 10 %.

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Source: dpa

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