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Energy costs fuel eurozone inflation

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2 years ago

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http://www.euronews.com/ Inflation in the eurozone accelerated in September. Energy costs, which were up 9.2 percent year-on-year, were the main factor.

Consumer prices in the 17 countries using the euro rose by 2.7 percent from September last year.

Inflation hit 3.0 percent in November last year, but has fallen steadily since then and stabilised at 2.4 percent in May, June and July; that was when the eurozone economy slowed sharply from the sovereign debt crisis.

However in August it rose again for the first time in 11 months from higher fuel and transport costs, reaching 2.6 percent.

The European Central Bank’s target is to keep inflation below but close to 2.0 percent

The good news for the ECB was that core prices -which excludes fuel and unprocessed food – has stayed low giving it leeway to cut interest rates soon.

“It seems highly likely that the ECB will take interest rates down from 0.75 percent to 0.50 percent in the fourth quarter,” said Howard Archer, economist at IHS Global Insight.

“While the ECB could act as soon as its October meeting next Thursday, we lean towards the view that they will probably hold off to November.”

The ECB kept its main interest rate unchanged at a record low of 0.75 percent at its meeting earlier this month, taking another policy-easing route by agreeing to launch a new and potentially unlimited bond-buying programme.

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2 Comments

2 Comments

  1. @ChrisRoadWarrior

    April 22, 2024 at 9:24 am

    RT???
    That's a good one, RUSSIAN TV fully controlled by Putin, so you want ppl in EU to watch PUTIN TV??? Why not Al-Jazeera or IRAN TV, cause apparently you enjoy media from dictatorial countries, right?
    I'm in CANADA and that's why I watch FOX NEWS, I know, 99% of all YT users HATE FNC, right?
    FNC available in UK as well, so ppl have lots of choices when it comes to getting their news info from.

  2. @stealthyspider

    April 22, 2024 at 9:24 am

    Inflation is what you get when you print lots of money. With the EU printing and the rest of the world following the USA with printing money. You get what? Yes inflation. Pitty most people and it seems the powers that be also do not understand this. The media seems not to as well. Not long before it all gos tits up and the world crashes. Its funny how many poeple are too dumb or to distracted to see whats going on. STOP WATCHING the BBC AND SKY. If you want to see real new watch RT.

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“It’s freedom”: Border residents react to end of Gibraltar-Spain checks

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July 17, 2026

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READ MORE : http://www.euronews.com/2026/07/16/its-freedom-border-residents-react-to-end-of-gibraltar-spain-checks

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Cypriot minister defends appointment of EU Cyprus special representative following backlash

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July 17, 2026

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Cypriot minister defends appointment of EU Cyprus special representative following backlash

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Latest news bulletin | July 6th, 2026 – Morning

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3 hours ago

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July 17, 2026

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Latest news bulletin | July 6th, 2026 – Morning

Catch up with the most important stories from around Europe and beyond this July 6th, 2026 – latest news, breaking news, World, Business, Entertainment, Politics, Culture, Travel.

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‘Food insecurity is on the increase’, World Food Programme Director says

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4 hours ago

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July 17, 2026

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‘Food insecurity is on the increase’, World Food Programme Director says

Conflict in Lebanon has “hit humanitarian operations” worldwide, says WFP Executive Director Carl Skau. “In the poorest countries, people are now eating less” as rising costs have reduced aid deliveries and disrupted supply chains.

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Ukraine opens new cluster of negotiations on EU membership track

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5 hours ago

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