Eurozone: Eurozone inflation rises to over two-year high
October 31, 2016
Eurozone inflation rose to an over two-year high in October, providing some evidence that the European Central Bank’s monetary stimulus is bearing fruit. According to a flash estimate released by Eurostat on 31 October, harmonized inflation was 0.5% in October. The result was one notch above market analysts’ expectations and September’s 0.4% reading.
According to Eurostat, the main contributors to October’s reading were higher prices for services and for food, alcohol and tobacco. Core inflation remained stable at 0.8% in October. Month-on-month price variations and a more detailed set of data will be provided on 17 November.