Inflation rate in eurozone dropped below 1 percent in September

Inflation rate in eurozone has decreased to 0.8 percent in September, while it stood at 1 percent in the previous two months

In whole EU inflation dropped to 1.2 percent, during holiday months it was calculated at 1.4 percent. These figures were stated in final report issued by Eurostat statistical office today.

Numbers in report confirm that eurozone inflation rate is still fading away from targets of European Central Bank. ECB aims to keep this rate just under 2 percent.

One year ago, the year-over-year inflation rate in eurozone held at 2.1 percent. For the whole EU the value was even by 0.1 percentage points higher.

Among most significant reasons that contributed to inflation in eurozone in September we can see services, that have raised prices by 1.5 percent year-over-year. Prices of foods, alcohol and tobacco followed. Energy prices have decreased by 1.8 percent year-over-year.

Cyprus has reported the lowest year-over-year inflation with minus 0.5 percent, followed by Portugal and Greece. Romania with the value of 3.5 percent is placed on the other end of the list, followed by Slovakia, Hungary, Netherlands and Czech Republic, where inflation rate of consumer prices stayed at 2.6 percent level.

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