- Eurozone annual inflation moderates to 1.7% in September, its lowest level in almost three and a half years.
- The Euro reacts downward after the data, falling to two and a half month lows against the Dollar.
He Eurozone Consumer Price Index (CPI) has moderated five tenths in the annual reading for September, growing at a rate of 1.7% compared to 2.2% in August, as reported by Eurostat. This is the lowest inflation rate since April 2021. Furthermore, the indicator has improved the market outlook, which was expecting 1.8%.
At a monthly level, the CPI has met expectationsfalling 0.1% after increasing 0.1% the previous month. This is its first decline since January of this year.
Finally, year-on-year core inflation has stood at 2.7% from the previous 2.8%, in line with expectations. This is its most moderate result in five months. The monthly core CPI, which excludes food and energy, has risen 0.1% after growing 0.3% previously.
Euro reaction
He Euro is falling against the Dollar for the fourth consecutive dayreaching 1.0849 this Friday, its lowest level in eleven weeks, specifically since last August 2. At the time of writing, EUR/USD is trading above 1.0854, losing a slight 0.07% on the day.
economic indicator
Consumer Price Index (YoY)
This indicator is published Eurostat and captures changes in the prices of goods and services. The consumer price index is an effective way to measure purchasing and inflation trends in the Eurozone. A better than expected result is bullish for the euro.
Last post: Thu Oct 17, 2024 09:00
Frequency: Monthly
Current: 1.7%
Dear: 1.8%
Previous: 1.8%
Fountain: Eurostat
Why is it important for operators?
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
