EURO ZONE INFLATION DROPS TO FOUR-YEAR LOW IN SEPT

Euro zone annual inflation fell for the second month running to a four-year low in September, the European Union’s statistics office Eurostat confirmed on Friday, mainly as a result of a sharp drop in volatile energy prices.

Eurostat said consumer inflation in the 19 countries sharing the euro was plus 0.1% month-on-month in September for a 0.3% year-on-year fall after a 0.2% annual price decline in August - in line with initial estimates released at the start of October.

Food, alcohol and tobacco added 0.34 percentage points to the final results, Eurostat said and services add another 0.24 points, but an 8.2% year-on-year plunge in energy prices subtracted 0.81 percentage point from the final number.