Mubasher: Final estimates showed that the Eurozone annual inflation grew at 0.8% in September, down from 1% in August, according to official data released on Wednesday.

Annual inflation in the European Union (EU) grew at 1.2% last September, edging down from 1.4% in the preceding month, the EU statistical office Eurostat said.

Inflation rates in the Eurozone and the EU came in at 2.1% and 2.2%, respectively a year earlier.

The Eurostat said that the biggest contribution last month came from the service sector at 0.66%, followed by 0.29% for food alcohol and tobacco, 0.06% by non-energy industrial products.

Meanwhile, those upward contributions were partially offset by a decline of 0.18% of the energy products.

The weakest annual rates were logged in Cyprus at 0.5%, Portugal at 0.3%, with Greece, Spain and Italy all recording a decline of 0.2%.

On the other hand, the highest inflationary levels were observed in Romania at 3.5%, Slovakia at 3% and Hungary at 2.9%.

By 9:11 am GMT, the EUR/USD pair ticked down by 0.03% to $1.1030.