Eurozone consumer prices declined for the second straight month in September, as initially estimated, final data from Eurostat revealed Friday.

Consumer prices decreased 0.3 percent on a yearly basis, following a 0.2 percent drop in August. The statistical office confirmed the flash estimate released on October 2. A similar lower rate was last seen in April 2016.

The European Central Bank aims to keep inflation “below, but close to 2 percent.” But the bank expects inflation to average 1 percent in 2021 and 1.3 percent in 2022.

Month-on-month, the harmonized index of consumer prices gained 0.1 percent in September, in line with the preliminary estimate.

Core inflation that excludes volatile energy, food, alcohol and tobacco, halved to a record 0.2 percent from 0.4 percent in August. The core rate also matched the flash estimate.

The material has been provided by InstaForex Company – www.instaforex.com

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