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Inflation in the eurozone reaches a historical record: 9.9% in September

Inflation in the eurozone reaches a historical record: 9.9% in September

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The eurozone year-on-year inflation rate stood at 9.9% last September, which marks a new historical record and represents an acceleration of eight tenths compared to that registered in August, although it is one tenth below the first estimate of 10% published by Eurostat, according to the second reading of the data carried out by the Community Statistics Office and collected by Europa Press. In the case of the set of European Unionthe year-on-year rate of inflation for September accelerated to 10.9% from the 10.1% corresponding to the month of August.

In September, a general rise in prices in the eurozone, so the increase is not attributable to a single figure. The prices of the Energy, still the main drivers of the rate, grew by 40.7% in the ninth month of the year, compared to the rise of 38.6% observed in August. However, the foods fresh prices increased by 12.7%, which represents an acceleration of 1.7 points compared to the 11% increase in the previous month. The services they registered an inflation of 4.3%, five tenths more; while the industrial goods Non-energy items accelerated four tenths, to 5.6%. When excluding the impact of energy from the calculation, the year-on-year inflation rate in the euro zone stood at 6.4% in September, compared to 5.8% in the previous month, while also excluding the effect of prices of fresh food, alcohol and tobacco, the core inflation rate reached a record 4.8%, five tenths more than in August.

In the month of September, 11 of the 19 countries of the euro zone registered double-digit inflation rates, while among the 27 there were a total of 18 countries that registered increases in the cost of living of at least 10%. Among the EU countries, the largest price increases were observed in Estonia (24.1%), Lithuania (22.5%) and Latvia (22%), while the least intense increases were observed in France (6 .2%), Malta (7.4%) and Finland (8.4%). In the case of Spainthe harmonized inflation rate reached 9% in September, compared to 10.5% in August, for which the country has achieved a favorable price differential with respect to the eurozone of nine tenths.

Compared to the eurozone and the EU, the inflation rate of USA stood at 8.2% last September, one tenth below the rise in prices in August, while in the United Kingdom rose to 10.1%, compared to 9.9% in August, thus returning to the highest level since 1982, which had also been observed in July.

The Governing Council of European Central Bank (ECB) raised interest rates by 50 basis points in July and by 75 points at its September meeting. The governing body of the central bank of the euro zone will meet again to examine its monetary policy on October 27.

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