Eurozone Inflation Rises to Five-Month High

Brussels: European statistical data revealed that inflation in the eurozone rose to its highest level in five months in September. Data released by the European Statistical Agency (Eurostat) on Saturday indicated that the inflation rate in the eurozone reached 2.2% in September, compared to 2% in August. According to Yemen News Agency, core inflation, which excludes more volatile items such as food and energy, also rose to 2.4% last month, compared to 2.3% in August. Meanwhile, food and tobacco price inflation fell to 3%, compared to 3.2% in August. Service price inflation rose to 3.2% last month, compared to 3.1% in the previous month. Meanwhile, energy prices in the 20-country European Union region fell by 0.4% in September, compared to a 2% decline in August, while inflation for non-energy industrial goods reached 0.8%. The European Central Bank last announced a quarter-point interest rate cut in June.