October 01, 2024 09:03 GMT
MNI BRIEF: September Inflation Dips Below ECB's 2%Target
Eurozone headline inflation dips below 2% for first time since June 2021
BundesbankPolicy NewsCentral Bank NewsHomepageEuropean Central BankCEEMEAEurozoneGermanyBriefGlobalStoryRegion
MNI (LONDON) - Eurozone inflation fell to 1.8% in September, a preliminary report by Eurostat showed, dipping below the ECB's 2% target for the first time since June 2021.
The headline number fell from 2.2% in August and came in below expectations of 2%. Core inflation also eased, falling to 2.7% from 2.8% last month. Services inflation, though still elevated, slowed to 4.0%.
On Monday, ECB President Christine Lagarde said there was a growing confidence that inflation would sustainably reach target and that this would factor into the Governing Council's October meeting. Policymakers also told MNI of a growing belief that rates will be cut further as early as October. (See MNI SOURCES: Chances Of October ECB Cut At Least 50-50 )
Keep reading...Show less
120 words