In October, the prices of food, alcoholic beverages and tobacco products still rose the most in the EU

By: Trademagazin Date: 2023. 11. 17. 13:09

In October, as previously announced, the annual inflation rate in the euro area moderated – the statistical office of the European Union, Eurostat, announced the final data on Friday.

Annual inflation in the euro area slowed from 4.3 percent in September to 2.9 percent, the lowest level since July 2021, in October.

The decrease in energy prices accelerated to 11.2 percent in October after the 4.6 percent drop in September.
In October, the price of food, alcoholic beverages and tobacco products rose the most, by 7.4 percent, following 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.

Compared to the previous month, prices in the euro area increased by 0.1 percent in October, after a 0.3 percent increase was recorded in September.

Annual core inflation, calculated without the prices of energy, food, alcohol and tobacco products, decreased to 4.2 percent after 4.5 percent in September.

The monthly core inflation was the same as in September, 0.2 percent in October.
According to Eurostat, annual inflation in the European Union slowed to 3.6 percent in October from 4.9 percent in September.