Euro Area Inflation Rate Confirmed at 0.7% in October

In October, Euro Area’s inflation rate slowed to 0.7 percent on an annual basis, down from 1.1 percent in September and 2.5 percent a year ago. The slowdown is mainly due to lower food cost and a drop in energy prices.

The largest upward impacts to euro area annual inflation came from electricity (+0.11 percentage points), accommodation services (+0.09) and tobacco (+0.08), while fuels for transport (-0.31), telecommunications (-0.16) and heating oil (-0.08) had the biggest downward impacts.

In October 2013, the lowest annual rates were observed in Greece (-1.9 percent), Bulgaria (-1.1 percent) and Cyprus (-0.5 percent), and the highest in Estonia and the United Kingdom (both 2.2 percent) and Finland (1.7 percent). Compared with September 2013, annual inflation fell in twenty-three Member States, remained stable in one and rose in four.

The lowest 12-month average rates up to October 2013 were registered in Greece (-0.4 percent), Latvia (0.3 percent) and Sweden (0.5 percent), and the highest in Romania (3.7 percent), Estonia (3.5 percent), Croatia and the Netherlands (both 2.9 percent). 

Euro Area Inflation Rate Confirmed at 0.7% in October

Eurostat | Krisztina Györffy |
11/15/2013 10:12:08 AM