Tuesday, October 28, 2003

Eurozone Inflation Numbers

The latest Eurozone inflation numbers are out. Francisco writes from Italy top say that the numbers are still causing controversy there (the euro rounding effect). Unfortunately I can't find a good link in English. I think for the tendency we need to get through the winter to see where we are going. There is still a lot of fluctuation on energy and food prices:

The eurozone harmonised index of consumer prices rose by 2.1 percent in September on an annual basis, unchanged from August and in line with analysts' forecasts, the EU statistics office Eurostat said Thursday. Across the full 15-member European Union, inflation decreased to 1.9 percent in September from 2.0 percent in August, Eurostat said. The eurozone rate was slightly higher than the European Central Bank's medium-term target of 2.0 percent. On a one-month basis, prices increased by 0.3 percent in the eurozone, pulled higher by clothing costs, which rose by 4.3 percent. Food prices were up by 0.6 percent but those for hotels and restaurants decreased by 0.9 percent, and energy costs were stable on the month. The highest inflation was seen in Ireland at 3.8 percent, Portugalpercent), Spain and Italy (3.0 percent each). Germany has the lowest rate at 1.1 percent, while Finland posted 1.2 percent and Austria 1.3 percent.
Source: EU Business

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