Euro area inflation is at its lowest for three years

Euro area inflation fell to a three-year low in October, according to a statement released on Friday by the European Union’s statistical office, Eurostat.

In the 19 euro area countries, consumer prices increased by 0.7 percent in October, compared to a year before, to a lesser extent than the 0.8 percent year-on-year rise in September. Euro area inflation stood at 2.3 percent in October 2018.

October’s euro area inflation was 0.7 percent. It has been the lowest in three years since November 2016. (MTI)