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Analysts at TD Securities notes that the Euro area October inflation came in on top of consensus, with headline inflation rising to 2.2% y/y while core energy rose to 1.1% y/y, leaving it back at its July rate.

Key Quotes

“The increase in core came from both goods and services components, with goods inflation rising a tick to 0.4% y/y while services inflation rose 2 ticks to 1.5%. The unemployment rate remained unchanged at its post-crisis low of 8.1%, as expected.”