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Eurozone September inflation revised down to 0.8% on muted energy prices

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Eurozone September inflation revised down to 0.8% on muted energy prices

Annual inflation in the eurozone for September was revised lower amid weaker energy prices, Eurostat data showed.

Headline inflation came in at 0.8% in September, down from a flash estimate of 0.9% and slower than the 1.0% rate in August.

Excluding energy, food, alcohol and tobacco, annual inflation ticked up to 1.0% from 0.9%, in line with preliminary data.

Energy prices dropped 1.8% following a 0.6% dip in August. Prices of food, alcohol and tobacco were up 1.6%, compared with a 2.1% rise previously.

On a monthly basis, headline inflation was at 0.2% while underlying inflation came in at 0.4%, in line with preliminary estimates.

The European Central Bank has an inflation target of just under 2%.