Inflation continues to rise in September driven by the rise in energy prices, 41% more expensive than a year ago
Prices continue their unstoppable rise across Europe. Inflation data for September was confirmed by Eurostat this Wednesday at 9.9%, a tenth less than expected, but at an all-time high. High energy prices (40.8% more expensive than a year ago) pushed inflation to a record level and represents an acceleration of eight tenths compared to August.
It is one point more than Spain’s inflation in September, which remained at 8.9% despite food pressures. In the European Union (EU) as a whole, the percentage accelerated in September from 10.1% in August to 10.9%. The countries benefiting most from the European tariff are Estonia (24.1%), Lithuania (22.5%) and Latvia (22%), while the least strong increases are observed in France (6.2%), Malta (7.4%) and Finland. (8.4%).
In total, eleven of the nineteen countries in the eurozone registered double-digit inflation rates, while out of twenty-seven, a total of 18 countries registered an increase in the cost of living of at least 10%.
In addition to energy, fresh food prices rose in September after falling 12.7% compared to the 11% observed in August. Services rose 4.3%, five tenths more than the previous month, and industrial goods accelerated to 5.6%, four tenths more.
Compared to the eurozone and the EU, inflation in the US was 8.2% last September, while in the UK it rose to 10.1%.
To counter this price increase, the European Central Bank (ECB) raised interest rates by 50 basis points in July and 75 points at its meeting in September. The governing body of the eurozone central bank will meet again on October 27 to discuss monetary policy. The organization’s director-general for the economy, Óscar Arce, said during a visit to Spain last week that there is a good chance that tariffs will rise again.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
