Eurozone inflation remains stable at 2.6%

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Both eurozone and European Union inflation remained unchanged during September compared with August, according to Eurostat.

Eurozone inflation remained at 2.6 per cent, while the wider European Union bloc saw inflation remain unchanged at 2.7 per cent.

The lowest rate was seen in crisis-hit Greece, which reported an inflation rate of 0.3 per cent during September.

Low rates were also seen in Sweden and Latvia, reporting inflation of 1 per cent and 1.9 per cent, respectively, last month.

The highest rates were seen in former Eastern bloc countries. Hungary saw inflation of 6.4 per cent, Romania followed with 5.4 per cent inflation and Estonia saw prices rise by 4.1 per cent in September.

According to Eurostat, annual inflation rose in eleven EU member states, was stable in five and fell in ten compared with August.

The main components contributing to inflation in September were transport, housing and alcohol & tobacco. The lowest rates were observed in the communications, education, household equipment and recreation & culture sectors.

The latest European data comes as the Office for National Statistics reported UK inflation had shrunk to 2.2 per cent during September.