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Eurozone annual inflation rate rises

Sept. 28, 2012 at 11:32 AM

BRUSSELS, Sept. 28 (UPI) -- Gains in the 12-month consumer price index in the 17-member eurozone accelerated for the second consecutive month in September, Eurostat said.

The annual rate of inflation was 2.4 percent in July and 2.6 percent in August in the eurozone. In September, prices on a 12-month basis rose 2.7 percent, the European Commission's data agency said Friday.

September's rate also beat the consensus forecast. Economists had predicted a 2.5 percent annual price hike.

Friday's figure is considered a flash estimate that could be changed as more data become available.

Eurostat said prices for food, alcohol and tobacco were up 2.7 percent, while energy prices jumped 9.2 percent. The prices of non-energy items rose 0.8 percent on an annual basis. The price of services was up 2 percent in the flash estimate.

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