Rising inflation in the eurozone. Consumer prices in the euro zone in September 2022 rose by 9.9% against the same month in 2021, according to the final data from Eurostat. The figure was revised down from the 10% announced earlier. Analysts had not expected the revision; Trading Economics wrote. Inflation, despite the downward revision, is still a record since the data began to be calculated. The rate of increase in consumer prices in the bloc accelerated from 9.1% in August.

Inflation rate in the eurozone – what’s going on? 

Compared to the previous month, prices in the eurozone increased by 1.2%.

Consumer prices, excluding volatile factors such as energy, food and alcohol (CPI Core index tracked by the European Central Bank), rose 4.8% year on year last month after rising 4.3% a month earlier.

Food, alcohol and tobacco prices rose 11.8% after rising 10.6% in August. Energy prices accelerated to 40.7% after rising 38.6% a month earlier. Services became more expensive by 4.3%.

In 27 EU countries the price growth in annual terms amounted to 10.9% in September, after an increase of 10.1% a month earlier. Against the previous month, prices in the EU rose by 1.2%.

The lowest inflation rate in the eurozone in annual terms in September was observed in France (6.2%), in Malta (7.4%) and in Finland (8.4%). The highest growth in consumer prices was registered in Estonia (24.1%), Lithuania (22.5%) and Latvia (22%).

In Germany, annual inflation accelerated to 10.9% from 8.8% in August. In Italy it was 9.4% after 9.1%. In Spain it slowed down to 9% from 10.5%.

This economic situation is unprecedented for Europe. Analysts make disappointing forecasts and prepare everyone for the fact that further circumstances will only worsen. 

Earlier we reported that almost all U.S. and European CEOs are preparing for economic recession and inflation.