The inflation rate in the euro area stood at 4.3% in September compared to 5.3% in August. This is the lowest figure since October 2021. The underlying inflation rate was 4.55% compared to 5.3% in August. This is the lowest figure since August 2022.
The average inflation rate is 5.5% against 8.4% in 2022.

All contributions are slowing down and that of energy remains negative contrary to what was noted on France.

The further slowdown in inflation and the slowdown in activity will change the balance on the labour market, reducing the bargaining power of employees. The rise in wage rates will be more limited, driving the contribution of the price of services down.

The ECB will therefore probably no longer have the opportunity to raise its benchmark interest rate