The annual inflation rate in the Eurozone reached 1.7% in September 2024, a decrease from 2.2% in August. A year earlier, it was 4.3%. The annual inflation rate in the European Union reached 2.1% in September 2024, a decrease from 2.4% in August. A year earlier, it was 4.9%. These figures are published by Eurostat, the statistical office of the European Union.

The lowest annual inflation rates were recorded in Ireland (0.0%), Lithuania (0.4%), Slovenia, and Italy (both countries at 0.7%). The highest annual rates were recorded in Romania (4.8%), Belgium (4.3%), and Poland (4.2%). Compared to August 2024, the annual inflation rate decreased in twenty member states, remained stable in two, and increased in five.

In September 2024, the main contributors to the annual inflation rate in the Eurozone were services (+1.76 percentage points), followed by food, alcohol, and tobacco (+0.47 percentage points), non-energy industrial goods (+0.12 percentage points), and energy (-0.60 percentage points).

The Eurozone consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia, and Finland.

The European Union includes Belgium, Bulgaria, the Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, and Sweden.

The data for the Eurozone and the European Union relate to the composition of the respective countries at a specific point in time. Changes in the composition of these aggregates are included using a chained index formula.

Annual inflation is the change in the price level of consumer goods and services between a given month and the same month of the previous year. Monthly inflation is the change in the price level between a given month and the previous month.

This article shows the contribution of each component of the Harmonised Index of Consumer Prices (HICP) to the annual inflation rate. The contributions are calculated using a method that ensures their additivity (taking rounding into account).

A preliminary estimate of inflation in the Eurozone is published at the end of each reference month. The preliminary estimate of inflation in the Eurozone for September 2024, published on October 1, 2024, was 1.8%.

The next preliminary estimate of inflation in the Eurozone, with data for October 2024, is scheduled for release on October 31, 2024.

https://twitter.com/EU_Eurostat/status/1846838562668298640

Eurostat / gnews – RoZ

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