Euro zone inflation increased slightly compared to the ECB's target.
Eurozone consumer price inflation was confirmed at 2.2% annualized in September 2025. This was up from 2% in the previous three months and slightly above the ECB's 2% average target. Services inflation increased to 3.2% from 3.1% in August, while energy costs fell only 0.4%, compared with a previous decline of 2%. Food, alcohol and tobacco prices rose more slowly, falling from 3.2% to 3.0%, reflecting weakening unprocessed food inflation. Non-energy industrial goods inflation remained stable at 0.8%. Meanwhile, core inflation, which excludes energy, food, alcohol and tobacco, rose to 2.4%, above a preliminary estimate of 2.3% and reversing a three-year low of 2.3% in August, signaling continued underlying price pressures.
