Euro zone inflation in October in annual terms was slightly lower than previously reported, but still remained at a record level due to rising energy prices, data from the European Union’s statistics office showed on Thursday (17). ).
Eurostat confirmed that consumer inflation in the 19 countries that share the euro rose 1.5% month-on-month in October, for an increase of 10.6% year-on-year from the previously reported 10.7%.
Of the final annual number, 4.44 percentage points came from the rise in energy prices, which rose 41.5% in October over a year earlier. Another 2.74 percentage points came from more expensive food, alcohol and tobacco.
Stripping out the more volatile components of energy and unprocessed food, what the European Central Bank calls core inflation, consumer prices rose 0.7% on the month and 6.4% year-on-year.
The ECB wants to keep inflation at 2% over the medium term and has been raising interest rates sharply since July to help curb price growth.
Source: CNN Brasil
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