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).
11/15/2013 10:12:08 AM