Annual inflation up to 2.2% in the euro area
EuropaOCT 2025
Eurozone Annual Inflation Rises to 2.2% in September
Above: The Euro Sculpture at Willi-Brandt-Platz in the financial district of Frankfurt, Germany. Image credit: Alex Kraus/Bloomberg/Getty Images
The Spin
Pro-establishment narrative
Rising inflation to 2.2% validates the ECB's cautious approach to monetary policy, with core inflation holding steady and energy price declines moderating naturally. The uptick reinforces that rate cuts remain premature given underlying economic stability.
Establishment-critical narrative
Underneath seemingly stable monetary policy are a series of trends that should cause concern. Despite headline figures, Europe's industrial production continues to decline while its trade balance faces multiple squeezes. Within these conditions, even a modest rise in inflation could be a serious cause for concern.