Inflation in Euro Area, EU Climb for Third Straight Month

Source: Eurostat

Annual inflation in both the Euro area and the European Union climbed for the third straight month in September, driven mainly by the significant increase in energy prices. EZU is down 0.18%.

• Euro area annual inflation stood at 3.4% in September, up from 3.0% in August and -0.3% in September 2020.
• EU inflation clocked in at 3.6%, up from 3.2% the past month and 0.3% in the same month last year.
• Both readings were the third straight month of acceleration, after the deceleration recorded in June.
• The biggest increase was recorded in energy prices, which soared by 17.6% during the month, followed by tobacco, and non-energy industrial goods.
• The highest annual rates were seen in Estonia and Lithuania which increased by 6.4%, and Poland which climbed by 5.6%.
• The slowest rates were in Malta with 0.7%, Portugal with 1.3%, and Greece with 1.9%.