The Eurozone annual inflation accelerated to a 13-year high in September, driven mainly by the surge in energy prices during the period, Eurostat reported.

  • Euro area annual inflation is expected to be at 3.4% in September, up from 3.0% in August. Should this be realized, this would be the fastest in 13 years since inflation clocked in at 3.6% in September 2008.
  • Energy is expected to have the highest annual rate during the month, up 17.4% from 15.4% in August; followed by non-energy industrial goods, which rose 2.1% from 2.6%; food, alcohol, and tobacco by 2.1% from 2.0%; and services by 1.7% from 1.1%.
  • The highest readings were reported in Estonia with 6.4%, Lithuania with 6.3%, Slovakia with 5.1%, Latvia with 4.6%, and Germany with 4.1%. The lowest readings were in Malta with 0.7%, Portugal with 1.3%, and Greece with 2.1%.

Inflation excluding energy, food, alcohol, and tobacco stood at 1.9%.