Eurozone final CPI revised higher to 0.5% MoM in September
- Eurozone inflation arrives at 3.4% YoY in September.
- Monthly CPI in the bloc rises to 0.5% in September.
- EUR/USD remains unfazed below 1.1650 on the EZ data.
According to Eurostat’s final reading of the Eurozone CPI report for September, the consumer prices came in at 3.4% on a yearly basis, in line with the flash estimate of 3.4% and 3.4% expectations. While the core figures rose by 1.9%, matching the 1.9% consensus forecasts.
On a monthly basis, the bloc’s CPI figure for September arrived at 0.5% versus 0.5% expectations and 0.4% previous while the core CPI numbers came in at 0.5% versus 0.5% expected and 0.5% last.
Key details (via Eurostat):
“The lowest annual rates were registered in Malta (0.7%), Portugal (1.3%) and Greece (1.9%). The highest annual rates were recorded in Estonia, Lithuania (both 6.4%) and Poland (5.6%). Compared with August, annual inflation fell in one Member State, remained stable in one and rose in twenty-five.”
“In September, the highest contribution to the annual euro area inflation rate came from energy (+1.63 percentage points, pp), followed by services (+0.72 pp), non-energy industrial goods (+0.57 pp) and food, alcohol & tobacco (+0.44 pp).”
FX implications:
EUR/USD is trading under pressure below 1.1650 on the data release.
At the press time, the spot is trading 0.04% lower on the day at 1.1625.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
