By Gokhan Ergocun
ISTANBUL (AA) - The euro area’s annual inflation rate fell to 1.7% in September, its lowest level since April 2021, Eurostat reported Thursday.
The annual price hike was 2.2% in August, with September’s inflation figure slightly below market expectations of 1.8%.
In the euro area, services made the largest contribution to annual inflation, followed by food, alcohol, and tobacco.
Across the EU, the inflation rate was recorded at 2.1%, down from 2.4% in August, also reaching its lowest level since April 2021.
Ireland posted the lowest inflation rate at 0%, followed by Lithuania (0.4%), Slovenia, and Italy (both at 0.7%). Romania saw the highest inflation at 4.8%, with Belgium (4.3%) and Poland (4.2%) close behind.
Compared to August, annual inflation fell in 20 EU member states, remained steady in two, and rose in five.