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Eurozone annual inflation in September was 2.1% - above the target rate of the ECB

Eurozone annual inflation was 2.1% in September 2007 up from 1.7% in August. A year earlier the rate was 1.7%. Monthly inflation was 0.4% in September 2007.

EU annual inflation was 2.2% in September 2007, up from 1.9% in August. A year earlier the rate was 1.9%. Monthly inflation was 0.4% in September 2007. These figures come from Eurostat, the Statistical Office of the European Union. The September inflation rate was above the ECB’s target of “below, but close to, 2%,” for the first time since August 2006. Sectors with the highest annual rates of inflation in September were education at 9.1% and alcohol and tobacco at 3.8%. Food prices rose at a 2.4% rate.

Inflation in the EU Member States
In September 2007, the lowest annual rates were observed in Malta (0.9%), Denmark (1.2%) and the Netherlands (1.3%), and the highest rates in Latvia (11.5%), Bulgaria (11.0%) and Estonia (7.5%). Compared with August 2007, annual inflation rose in twenty-four Member States, remained stable in one and fell in one. The lowest 12-month averages up to September 2007 were in Malta (0.4%), France and Finland (both 1.4%); the highest were in Latvia (8.2%), Hungary (7.8%) and Bulgaria (6.2%). (finfacts.com)