Inflation in the Eurozone dropped to its lowest level in 2 years

2 oct. 2023

According to Eurostat, inflation in the Eurozone has gradually decreased after peaking at 10.6% in October 2022 due to the conflict in Ukraine affecting the economy of the entire Europe.

People shop at a supermarket in Berlin, Germany.
On September 29, the European Union Statistical Agency (Eurostat) said that September inflation in the Eurozone fell to near its lowest level in the past 2 years.

Eurostat data shows that Eurozone consumer prices increased by 4.3% over the same period last year, the lowest level since October 2021.

This parameter is lower than the forecast of 4.5% given by many analysts, but still higher than the 2% target of the European Central Bank (ECB).

EURUSD SELL 1.0560- 1.0570 🔽🔽

✔️ TP: 1.0560
❌ SL: 1.0620

2 oct. 2023

Note

The ECB's latest data is expected to increase investors' hopes that the ECB will pause its interest rate hike cycle in the context that Eurozone economic growth remains weak and concerns increase about the economic burden. economy for households and businesses, as borrowing costs rise higher.

According to Eurostat, core inflation (excluding energy, food, alcoholic beverages and tobacco prices) decreased from 5.3% in August to 4.5% in September. Energy prices also followed a downward trend with a decrease of 4.7% in September.