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Eurozone Employment Remains Steady As Inflation Falls

James Boston
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Eurozone Employment Remains Steady As Inflation Falls

The closely watched price inflation situation in the Eurozone has been updated this morning with the publication of the September Consumer Price Index (CPI) figures in preliminary format. The CPI now appears to be reading at 0.3% expansion when measured year on year, this is in comparison to the August final number of 0.4% and there was an expectation today for this fall to just 0.3%. The Core CPI preliminary figure for September has been reported as a 0.7% growth in general prices, this is in comparison to the official August number of 0.9% with no expectation for a change in this reading today.

Also just updated by Eurostat is the official Eurozone Unemployment Rate, as anticipated this once again remains at 11.5% as an average across the Zone, but stark regional disparities persist as the spread on nations unemployment rates from highest to lowest is still above 22%.

As the European Central Bank (ECB) this week prepares to hold it’s monthly meeting offsite in the Italian city of Naples the Italian economy remains a trouble spot for the European authorities. Some welcome news however has just been released in the form of falling Unemployment figures, the latest data just released for the month of August is showing an unexpected drop in the rate from 12.6% to 12.3%, this is a meaningful change for the Italian economy and was not foreseen by analysts that had been expecting the rate to once again remain at the 12.6% level.

The change in the Italian inflation situation however remains more mixed according to the latest price index data just published. The preliminary year on year CPI number remained steady at -0.1% compared the August final number. Month on month the CPI figure now stands at -0.3% in comparison to the July increase of 0.2%.

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