Euro zone Sept HICP up 1.7 pct yr-on-yr vs 1.8 provisional
The euro zone's harmonised index of consumer prices rose a final 1.7 pct year-on-year in September, revised down from a provisional estimate of a rise of 1.8 pct, EU statistics office Eurostat said. The index has not been as low since March 2004. The last time that HICP inflation was in line with the European Central Bank's target of below or close to 2 pct was January 2005, when it stood at 1.9 pct. The HICP rose 2.3 pct year-on-year in August. Month-on-month, the HICP was flat in September, as forecast by economists polled by AFX News. Economists had forecast a year-on-year increase of 1.8 pct. Eurostat said prices excluding energy, food, alcohol and tobacco -- its favoured measure of core inflation -- were up 1.5 pct year-on-year in September, compared with an August rate of increase of 1.4 pct. Prices excluding energy and unprocessed food rose 1.5 pct year-on-year, unchanged from the increase in August. This measure of core inflation is closely watched by the European Central Bank.
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