Eurozone CPI accelerated to 3.4% yoy in September, up from 3.0% yoy, above expectation of 3.3% yoy. Core CPI rose to 1.9% yoy, up from 1.6% yoy, above expectation of 1.8% yoy.
Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in September (17.4%, compared with 15.4% in August), followed by non-energy industrial goods (2.1%, compared with 2.6% in August), food, alcohol & tobacco (2.1%, compared with 2.0% in August) and services (1.7%, compared with 1.1% in August).
