Eurozone inflation down to 1.1% in September

Annual inflation in the 17-nation eurozone is expected to decline to 1.1 percent in September from 1.3 percent in August, European Union (EU) statistics office Eurostat said Monday. The latest data indicated a decline trend for CPI in the euro zone, especially the pressure-eased energy costs, which weigh on the economy recovery. Before July, the CPI had risen for two months in a row in the single currency area, which is suffering economic recession and is at the risk of deflation, according to official figures. The prices of food, alcohol and tobacco products were the key inflationary factor in September, which rose by 2.6 percent year on year. In the same month, prices of services rose 1.5 percent on an annual basis, higher than the 1.4-percent increase in August. Prices of non-energy industrial goods rose 0.3 percent after a 0.4-percent gain in August, and prices of energy industrial goods decreased 0.9 percent following a 0.6-percent decrease last month.