- Inflation in the euro area reached 4.1% year-on-year in October.
- The monthly CPI in the block rises to 0.8% in October.
According to Eurostat’s final reading of the eurozone CPI report for October, consumer prices stood at 4.1% year-on-year, in line with the initial estimate of 4.1% and the expected 4.1%. While underlying figures increased 2%, below the forecasts of 2.1%.
In monthly terms, the CPI figure for the block for October reached 0.8% compared to the 0.8% forecast and the previous 0.5%, while the figures for the Core CPI stood at 0.3% versus 0.3% expected and 0.3% previously.
Key details (via Eurostat):
“The lowest annual rates were recorded in Malta (1.4%), Portugal (1.8%), Finland and Greece (both 2.8%). The highest annual rates were recorded in Lithuania (8.2%), Estonia (6.8%) and Hungary (6.6%). Compared to September, annual inflation increased in all 27 Member States.”
“In October, the largest contribution to the annual inflation rate in the euro zone came from energy (+2.21 percentage points, pp), followed by services (+0.86 pp), non-energy industrial goods (+0.55 pp) and food, alcohol and tobacco (+0.43 pp) “.
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