Eurozone inflation rose to 2.2% in September 2025, following three consecutive months of inflation aligning with the European Central Bank ’s (ECB) 2% target.
The overall uptick in inflation was primarily driven by softer annual declines in energy prices.
In all, September’s uptick in headline inflation will only serve to reinforce the ECB’s cautious stance as the central bank remains focused on upside risks to inflation, not least due to a slightly stronger growth outlook for 2025. As such, Cebr does not expect any additional rate cuts in 2025.
