Eurozone: Inflation Below 2% in September

The eurozone annual inflation rate fell below 2% in September 2024 to 1.7%, down from 2.2% in August. This is reported by the European Statistical Institute (Eurostat), which emphasizes the rapid decline over 12 months: a year ago the figure was 4.3%. Annual inflation across the European Union was 2.1% in September 2024, also lower than the previous month’s 2.45% and September 2023’s 4.9%.

The two most positive items are services (+1.76 percentage points – pp), food, alcohol, and tobacco, up 0.7 pp, while energy is down -0.6 pp.

Compared to September 2023, annual inflation has declined in twenty countries, increased in five, and is stable in two. The highest inflation was recorded in Romania (4.8%), followed by Belgium (4.3%) and Poland (4.2%). In contrast, the lowest is in Ireland (0.0%), followed by Lithuania (0.4%), Slovenia, and Italy (both 0.7%). The figure for Germany is 1.8%, France 1.4%, Spain 1.7%, and the Netherlands 3.3%.