Eurozone inflation dips below the 2% threshold for the first instance.
For the first time in more than three years, the Eurozone witnessed an inflation rate below the two% mark in September.
As per an initial assessment by Eurostat, the EU's statistical agency, consumer prices increased by 1.8% when compared to the identical month of the previous year on Tuesday. The decrease in inflation is considered as a crucial step towards additional rate reductions by the European Central Bank (ECB).
The inflation rate in September was significantly lower than the Eurozone's two-percent benchmark, making up the percentage of times this has occurred in over three years. This decrease in inflation could potentially contribute to the European Central Bank's goal of implementing further interest rate reductions.
