Inflation back below two per cent

Inflation in the Eurozone fell below two per cent in September for the first time in a long time. Consumer prices rose by 1.8 per cent compared to the same month last year, according to an initial estimate by the statistics office Eurostat in Luxembourg. This is the lowest level since April 2021.

For more than three years, prices rose faster than the European Central Bank's target. Now they have fallen slightly below the target again. In August, the inflation rate was still at 2.2 per cent. The European Central Bank (ECB) is aiming for an inflation rate of two per cent in the medium term.

The significant fall in inflation can be explained by the development of energy prices. They fell by six per cent year-on-year. Service prices, on the other hand, rose particularly sharply by four per cent.