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September, 30, 2016

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Eurozone inflation revised down to 2.6% in September but above ECB target: EU

BRUSSELS -- Eurozone inflation was revised downwards on Tuesday to 2.6 percent for September, down from an initial 2.7 percent but still well above the European Central Bank's target, official data showed.

The rate was flat compared with August.

Eurozone inflation has now run above the ECB's medium-term target of just below but close to 2.0 percent since December 2010.

The annual rate was 2.1 percent in Germany, 2.2 percent in France but 3.4 percent in Italy and 3.5 percent in Spain. In Greece's shattered economy, the rate of inflation was 0.3 percent.

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