Inflation October 2019

Inflation drops to nearly three-year low in October

Complete data revealed harmonized inflation fell to 0.7% in October, down from September’s 0.8% and matching the preliminary estimate. The result marked the lowest reading since November 2016. Inflation sits sizably below the European Central Bank’s target rate of near, but under, 2.0%. The reading was chiefly due to a sharper drop in energy prices and easing food, alcohol and tobacco price pressures.

Annual average harmonized inflation inched down to 1.3% in October, from September’s 1.4%. Core inflation, meanwhile, was stable at September’s 1.2% in October. On a monthly basis, harmonized consumer prices rose 0.1% in October, below September’s 0.2% increase.

Among the countries in the common-currency bloc, Cyprus and Portugal experienced dropping harmonized prices on an annual basis. On the flipside, the Netherlands (2.8%) and Slovakia (2.9%) recorded the highest inflation rates. Regarding the largest economies in the Eurozone, harmonized inflation was stable in Germany, Italy and Spain, while it fell in France.

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