Eurozone flash HICP rises faster by 3.8% YoY in September, beats 3.6% estimates

Eurozone’s preliminary Harmonized Index of Consumer Prices (HICP) data for September arrives at 3.8% Year-on-Year (YoY), higher than 3.6% estimates and August’s final reading reading of 3.2%. On a monthly basis, inflationary pressures grew at a faster pace of 0.6% against the prior release of 0.4%.

The core HICP – which excludes volatile components like food, energy, alcohol, and tobacco – rises by 2.5% YoY, as expected, faster than the previous reading of 2.4%. Month-on-month core HICP grew steadily by 0.2%.

Market reaction

No significant movement is seen in the Euro (EUR) after the Eurozone HICP data release. As of writing, EUR/USD is up 0.1% to near 1.1250.