Inflation in Eurozone cools to 1.7% in September

The slowdown in consumer price increases comes as the European Central Bank is expected to cut interest rates.

Year-on-year inflation in the eurozone slowed to 1.7% last month, slightly lower than previously estimated, according to official data published Thursday.

It is the first time in more than three years that the inflation rate in the single currency area has fallen below the European Central Bank's (ECB)target of 2%.