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According to Eurostat’s flash reading of Eurozone CPI report, the annual reading came in at +1.4% in October, meeting expectations of +1.4% and +1.3% previous.

Meanwhile, the core figures dropped to 1.1% in the reported month when compared to 1.2% expectations and 1.3% previous.

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 1.6% in January and remained well below the European Central Bank’s (ECB) rate target of just under 2 percent for the Eurozone as a whole.