source: EUROSTAT
The inflation rate in the Euro Area declined to 2.9% year-on-year in October 2023,
reaching its lowest level since July 2021 and falling slightly below the market consensus of 3.1% .
Meanwhile,
The Core Rate, which filters out volatile food and energy prices,
also cooled to 4.2% in October;
marking its lowest point since July 2022.
However, both rates remained above the European Central Bank's target of 2%.
The energy cost tumbled by 11.1% (compared to -4.6% in September), and the rates of inflation eased for both food, alcohol, and tobacco (7.5% compared to 8.8%) and non-energy industrial goods (3.5% compared to 4.1%).
Services inflation remained relatively stable at 4.6%, compared to 4.7% in the previous month. On a monthly basis, consumer prices edged up 0.1% in October, after a 0.3% gain in September.
The inflation rate in the Euro Area declined to 2.9% year-on-year in October 2023,
reaching its lowest level since July 2021 and falling slightly below the market consensus of 3.1% .
Meanwhile,
The Core Rate, which filters out volatile food and energy prices,
also cooled to 4.2% in October;
marking its lowest point since July 2022.
However, both rates remained above the European Central Bank's target of 2%.
The energy cost tumbled by 11.1% (compared to -4.6% in September), and the rates of inflation eased for both food, alcohol, and tobacco (7.5% compared to 8.8%) and non-energy industrial goods (3.5% compared to 4.1%).
Services inflation remained relatively stable at 4.6%, compared to 4.7% in the previous month. On a monthly basis, consumer prices edged up 0.1% in October, after a 0.3% gain in September.
Comment:
EUIRYY
The inflation rate in the Euro Area went down to 2.8% year-on-year in January 2024 from 2.9% in the previous month, in line with market expectations. Meanwhile, the core rate, which excludes volatile food and energy prices, continued to ease to 3.3%, above forecasts of 3.2% but still reaching its lowest level since March 2022.
Energy prices saw a decline of 6.3% (vs -6.7% in December), while services inflation remained steady at 4.0%. Moreover, prices slowed for food, alcohol, and tobacco (5.7% vs 6.1%), and non-energy industrial goods (2% vs 2.5%).
On a monthly basis, consumer prices fell by 0.4% in January, after a 0.2% increase in December.
source: EUROSTAT
EUIRYY
The inflation rate in the Euro Area went down to 2.8% year-on-year in January 2024 from 2.9% in the previous month, in line with market expectations. Meanwhile, the core rate, which excludes volatile food and energy prices, continued to ease to 3.3%, above forecasts of 3.2% but still reaching its lowest level since March 2022.
Energy prices saw a decline of 6.3% (vs -6.7% in December), while services inflation remained steady at 4.0%. Moreover, prices slowed for food, alcohol, and tobacco (5.7% vs 6.1%), and non-energy industrial goods (2% vs 2.5%).
On a monthly basis, consumer prices fell by 0.4% in January, after a 0.2% increase in December.
source: EUROSTAT
Comment:
EUIRYY
The consumer Price Inflation rate in the Euro Area declined to 2.4% year-on-year in March 2024, matching November's 28-month low and falling short of market expectations of 2.6%, a preliminary estimate showed.
The core rate, excluding volatile food and energy prices, also cooled to 2.9%, its lowest point since February 2022 and below forecasts of 3.0%.
Energy prices saw a decline of 1.8% (vs -3.7% in February), while the pace of price rises moderated for food, alcohol & tobacco (2.7% vs 3.9%), and non-energy industrial goods (1.1% vs 1.6%).
On the other hand, services inflation held steady at 4.0%. On a monthly basis, consumer prices increased by 0.8% in March, following a 0.6% rise in February.
source: EUROSTAT
EUIRYY
The core rate, excluding volatile food and energy prices, also cooled to 2.9%, its lowest point since February 2022 and below forecasts of 3.0%.
Energy prices saw a decline of 1.8% (vs -3.7% in February), while the pace of price rises moderated for food, alcohol & tobacco (2.7% vs 3.9%), and non-energy industrial goods (1.1% vs 1.6%).
On the other hand, services inflation held steady at 4.0%. On a monthly basis, consumer prices increased by 0.8% in March, following a 0.6% rise in February.
source: EUROSTAT
The Inflation Rate in the Euro Area rose to 2.9% year-on-year in December 2023, climbing from an over two-year low of 2.4% seen in November, yet slightly below the market consensus of 3%, a preliminary estimate showed.
It was the first uptick in inflation since April and was primarily propelled by energy-related base effects.
Energy prices saw a decline of 6.7% (vs -11.5% in November), while services inflation remained steady at 4.0%.
Moreover, the pace of price rises moderated for both food, alcohol & tobacco (6.1% vs 6.9%) and non-energy industrial goods (2.5% vs 2.9%).
The core rate, excluding volatile food and energy prices, also cooled to 3.4%, aligning with expectations and marking its lowest point since March 2022.
On a monthly basis, consumer prices increased by 0.2% in December,
following a 0.6% drop in November.
source: EUROSTAT