Eurozone Inflation October 2019

Eurozone

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.

FocusEconomics Consensus Forecast participants see inflation in the Euro area averaging 1.3% in 2020. For 2021, panelists expect inflation to average 1.4%.


Author: Angela Bouzanis, Lead Economist

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Euro Area Inflation October 2019 1

Note: Year-on-year and month-on-month var. of harmonized consumer price index (HICP) in %.
Source: Eurostat


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