Annual inflation in the Eurozone reached 2.9 percent

The European Statistical Office (Eurostat) has released preliminary inflation data for the Eurozone for October. According to the data, annual inflation in the Eurozone, which was 4.3 percent in September, was recorded at 2.9 percent in October. In the Eurozone, the CPI recorded a 0.1 percent increase in October compared to the previous month.

HIGHEST INFLATION IN FOOD, ALCOHOL, AND TOBACCO

Market expectations were for annual inflation in the Eurozone to be 3.1 percent in October. It was noted that the annual inflation data remained below market expectations. Looking at the main components of inflation, the highest annual inflation occurred in food, alcohol, and tobacco products at 7.5 percent. Food was followed by services at 4.6 percent and non-energy industrial goods at 3.5 percent, while energy products declined by 11.1 percent.

LOWEST INFLATION IN BELGIUM

According to EU-harmonized data, inflation in October was determined to be 7.8 percent in Slovakia, 6.7 percent in Croatia, 6.6 percent in Slovenia, 5 percent in Estonia, 4.9 percent in Austria, 4.5 percent in France, 3.5 percent in Spain, 3 percent in Germany, 1.9 percent in Italy, -1 percent in the Netherlands, and -1.7 percent in Belgium.

News Source: 12punto