According to Eurostat’s flash reading of Eurozone CPI report, the annual reading came in at 0.7% in October, meeting expectations of 0.7% and 0.8% previous.
Meanwhile, the core figures unexpectedly accelerate to 1.1% in the reported month when compared to 1.0% expectations and 1.0% previous.
Key Details (via Eurostat):
“Looking at the main components of euro area inflation, services is expected to have the highest annual rate in October (1.6%, compared with 1.5% in September), followed by food, alcohol & tobacco (1.6%, stable compared with September), non-energy industrial goods (0.3%, compared with 0.2% in September) and energy (-3.2%, compared with -1.8% in September).”
The Eurozone inflation report comes a day after the German Prelim CPI data was released, which showed that the German consumer price inflation accelerated by only 0.9% in October and remained well below the European Central Bank’s (ECB) rate target of just under 2 percent for the Eurozone as a whole.
Separately, Eurozone September unemployment rate was reported that arrived at 7.5% vs. 7.5% last (revised from 7.4%).
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