October euro area inflation declined

The annual rate of increase in consumer prices in the euro area in October was lower than in the previous month, mainly due to lower energy prices.

The European Union’s statistical office, Eurostat, said in a preliminary report on Thursday that consumer prices in the 19 euro area countries increased by 0.7 percent year-on-year in October.

The annual price increase was 0.8 percent in September, while it was 2.3 percent in October last year. (MTI)