Eurozone Annual Deflation Accelerated To 0.3% In September
Consumer prices in the euro area in September 2020 fell by 0.3% on an annualized basis, according to preliminary data from the Statistical Office of the European Union (Eurostat). In August, deflation was 0.2%. Experts on average predicted a decline in prices by 0.2%, Trading Economics reports. Consumer prices increased by 0.1% against the previous month.
Consumer prices excluding volatile factors such as the cost of energy, food and alcohol (the CPI Core index, which is tracked by the European Central Bank), rose 0.2% on an annualized basis in September after rising 0.4% in August.
Energy prices in September fell by 8.2% compared to the same month of the previous year (-7.8% in August), industrial goods – by 0.3% (-0.1% a month earlier).
The cost of food, alcohol and tobacco products rose 1.8% after rising 1.7% a month earlier. Services rose 0.6%.