Euro Area Inflation Rate Confirmed at 3-Year High in September

2026-10-16 09:06 By Joana Taborda 1 min. read

The annual inflation rate in the Eurozone accelerated for a third consecutive month to 3.8% in September 2026, the highest since September 2023, compared to 3.2% in August and in line with the preliminary estimate.

Prices rose faster for energy (18.9% vs 14.3%), services (3.2% vs 3%) and food, alcohol and tobacco (1.3% vs 1.1%).

On the other hand, inflation slowed slightly for non-energy industrial goods (1.1% vs 1.2%).

Inflation accelerated across the bloc, with Slovakia the only country to record a slight decline, to 3% from 3.1%, while rates in Latvia and Portugal were unchanged at 3% and 3.6%, respectively.

Among the Eurozone’s largest economies, inflation rose in Germany to 3.3% from 2.9%, France to 3.4% from 2.6%, Italy to 4.2% from 3.2%, Spain to 5% from 4.6%, and the Netherlands to 3% from 2.8%.

Annual core inflation which excludes energy, food, alcohol & tobacco went up to 2.5% from 2.4%.

Compared to August, the CPI increased 0.6%.



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Euro Area Inflation Rate Confirmed at 3-Year High in September
The annual inflation rate in the Eurozone accelerated for a third consecutive month to 3.8% in September 2026, the highest since September 2023, compared to 3.2% in August and in line with the preliminary estimate. Prices rose faster for energy (18.9% vs 14.3%), services (3.2% vs 3%) and food, alcohol and tobacco (1.3% vs 1.1%). On the other hand, inflation slowed slightly for non-energy industrial goods (1.1% vs 1.2%). Inflation accelerated across the bloc, with Slovakia the only country to record a slight decline, to 3% from 3.1%, while rates in Latvia and Portugal were unchanged at 3% and 3.6%, respectively. Among the Eurozone’s largest economies, inflation rose in Germany to 3.3% from 2.9%, France to 3.4% from 2.6%, Italy to 4.2% from 3.2%, Spain to 5% from 4.6%, and the Netherlands to 3% from 2.8%. Annual core inflation which excludes energy, food, alcohol & tobacco went up to 2.5% from 2.4%. Compared to August, the CPI increased 0.6%.
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Eurozone Inflation Accelerates to Three-Year High
Eurozone annual inflation accelerated to 3.8% in September 2026, up from 3.2% in August and above market expectations of 3.6%, according to preliminary estimates. The rate reached its highest level since September 2023 and remained well above the ECB’s 2% target, driven largely by a surge in energy prices amid continued fighting in the Middle East. Energy inflation jumped to 18.8%, its highest level since January 2023. Price growth also accelerated for services, to 3.2% from 3.0%, and unprocessed food, to 4.0% from 2.7%. Core inflation, which excludes energy and food, rose to 2.5% from 2.4%, in line with expectations. Among the euro area’s largest economies, inflation accelerated in Germany to 3.3% from 2.9%, France to 3.4% from 2.6%, Spain to 5.0% from 4.6%, Italy to 4.1% from 3.2%, and the Netherlands to 3.0% from 2.8%.
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Eurozone Inflation Remains Elevated as Energy Costs Soar
Eurozone annual inflation accelerated to 3.2% in August 2026, matching May’s two-and-a-half-year high but coming in slightly below the preliminary estimate of 3.3%. The rate remained well above the ECB’s 2% target, driven largely by a surge in energy prices amid continued fighting in the Middle East. Energy inflation jumped to 14.3%, its highest since January 2023, while inflation for unprocessed food and non-energy industrial goods also accelerated. Services inflation, however, eased to a four-month low of 3.0%, while core inflation, excluding energy and food, edged down to 2.4% from 2.5%. Among the euro area’s largest economies, inflation accelerated in Germany to 2.9% from 2.8%, France to 2.6% from 2.4%, Spain to 4.6% from 3.9%, and Italy to 3.2% from 2.9%. The Netherlands was an exception, with inflation easing to 2.8% from 3.0%.
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