Eurostat: Inflation in the euro area moderated more than expected in October

By: Trademagazin Date: 2023. 10. 31. 12:48

In October, the annual inflation rate in the euro area moderated more strongly than expected by analysts – the statistical office of the European Union, Eurostat, announced on Tuesday as non-final data.

In the euro area, annual inflation slowed from 4.3 percent in September to 2.9 percent in October, the lowest level since July 2021. The average of expert expectations was 3.1 percent for October. The decrease in energy prices accelerated to 11.1 percent in October after the 4.6 percent drop in September. The prices of food, alcoholic beverages and tobacco products rose the most in October, by 7.5 percent, which is a slowdown after the 8.8 percent increase in September. The price of services also increased at a slower pace, by 4.6 percent after 4.7 percent in September.