Eurozone: Inflation close to 3-year low in October
October 31, 2019
According to a preliminary estimate released by Eurostat on 31 October, harmonized inflation inched down to 0.7% in October from September’s 0.8%. The result marked the lowest reading since November 2016. The result is far below the European Central Bank’s target rate of near, but under, 2.0%. October’s deceleration was due chiefly to a drop-in prices for energy.
On a monthly basis, harmonized prices are expected to have risen 0.2% in October, matching September’s result. Core inflation, which excludes volatile energy and unprocessed foods prices, was unchanged at September’s 1.2%.
A complete set of data for harmonized inflation will be released 15 November.