Annual inflation in the euro zone reached 2.2%

According to Eurostat, annual inflation in the eurozone reached 2.2% in September 2025, up from 2.0% a month earlier. Across the European Union, the figure was 2.6%, also up from 2.4% in August. By comparison, in September 2024, eurozone inflation was 1.7% and EU-wide inflation was 2.1%.

Such growth may signal a change of trend after several months of relative stability. The main "engine" of inflation was services, which contributed 1.49 percentage points of the total indicator. This was followed by food, alcohol and tobacco (+0.58 p.p.), industrial goods excluding energy (+0.20 p.p.). The energy sector, on the contrary, exerted deflationary pressure, reducing the total index by -0.03 p.p.

The picture by country remains highly uneven. Romania again leads with a staggering 8.6% inflation, followed by Estonia (5.3%), Croatia and Slovakia (4.6% each). In these countries, prices continue to rise steadily despite pan-European efforts to curb inflation. The reasons lie in both increased demand and localised factors, ranging from energy tariffs to food costs.

At the other end of the spectrum are Cyprus (0.0%), France (1.1%), and Italy and Greece (1.8% each). In particular, France has had the lowest inflation among the major economies in the region for several months in a row, despite moderate price increases in sectors such as transport and food.

The energy sector remains the only major category to experience deflation: -0.4% in September. This is due to both the fall in global energy prices and seasonal factors. At the same time, unprocessed food (+4.7%) and services (+3.2%) continue to show the largest growth among consumer categories.

Interestingly, in the structure of inflation, it is services that have maintained a stable and the most significant contribution to the overall index for several months in a row. This indicates the continuing pressure from wages and domestic demand.