Euro-area inflation climbs to 3.8 per cent as energy prices accelerate
Annual inflation in the euro area rose to 3.8 per cent in September from 3.2 per cent in August. Energy prices increased 18.8 per cent over the year, while inflation excluding energy, food, alcohol and tobacco reached 2.5 per cent. Prices rose 0.6 per cent monthly. The preliminary figures also show rising annual services inflation; detailed September results are scheduled for 16 October.
Economics & Markets··Evening
September’s annual rate reaches 3.8 per cent
Consumer prices across the euro area were 3.8 per cent higher in September than a year earlier. The new flash estimate, released on 2 October, places energy at the centre of the increase.[1], [2]
The harmonised consumer-price index underlies this regional estimate from Eurostat, the European Union’s statistical office. August’s annual rate was 3.2 per cent. Prices increased 0.6 per cent between August and September. The current regional aggregate spans 21 countries after Bulgaria joined the euro area in January. Annual inflation compares September prices with those in September 2025.[1]
Energy’s annual rise accelerates to 18.8 per cent
Energy prices rose 18.8 per cent annually, against 14.3 per cent in August, and 3.9 per cent during September alone. Services inflation increased from 3.0 per cent to 3.2 per cent annually, although services prices fell 0.7 per cent over the month. Food, alcohol and tobacco inflation rose from 1.1 per cent to 1.4 per cent annually. Non-energy industrial goods moved the other way: their annual rate eased from 1.2 per cent to 1.1 per cent.[1]
Core inflation reaches 2.5 per cent
Removing energy, food, alcohol and tobacco leaves annual inflation of 2.5 per cent, up from 2.4 per cent in August. That narrower basket rose 0.2 per cent during the month. Excluding energy alone gives an annual rate of 2.3 per cent. These September figures are preliminary estimates. Detailed results are scheduled for 16 October, followed by the next flash estimate on 4 November.[1]
