Eurozone inflation falls to target levelŌuyuánqū tōnghuò péngzhàng lǜ jiàng zhì mùbiāo shuǐpíng欧元区通货膨胀率降至目标水平。
September 30, 2024 at 2:00 PM
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BusinessEurozone Inflation Falls to ECB Target
Eurozone September inflation fell to 1.8 percent, falling below the ECB 2 percent target level for the first time.
Eurozone September inflation fell to 1.8 percent, falling below the ECB 2 percent target level for the first time, the lowest value since 2021.
Declining energy prices and moderating service cost increases together drove this decline. Analysts point out that this move marks the initial success of the ECB inflation control strategy.
Because economic growth remains weak, the central bank cut rates multiple times in 2024 to support growth. However, services inflation remained around 4 percent, suggesting that inflation pressures have not fully dissipated.
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