Annual inflation in the euro zone fell to 3.6 percent in September, retreating from its record highs in the previous months, the European Union (EU)'s statistics bureau Eurost at estimated Tuesday.
Pushed by hiking oil and food prices, the eurozone inflation has been on increase in the past year. It peaked at 4.0 percent in June and July, the highest since the European Central Bank (ECB) started 12 years ago collecting inflation data for the countries which began to use the euro in 1999.
Analysts said the easing of price pressure in the euro zone was mainly due to recent drops of oil prices, but the figure remained too high for the 15-nation bloc sharing the same currency, which is facing increasing risk of recession.
Till September, the eurozone inflation has been stubbornly higher than the two percent ceiling preferred by the European Central Bank (ECB) to maintain price stability for 13 months, preventing the Frankfurt-based ECB from rate cut to stimulate a sluggish economy amid financial turmoil.
European Commissioner for Economic and Monetary Affairs Joaquin Almunia told the European Parliament last week that risks to the inflation outlook in Europe were still on the upside.
Source: Xinhua
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