Eurozone October Inflation Confirmed at 3-Year Low
The consumer price inflation in the Euro Area was confirmed at 0.7 percent year-on-year in October 2019, down from 0.8 percent in the previous month and the lowest since November 2016. Energy prices dropped at a faster pace while food and services inflation rates were unchanged.
11/15/2019 10:10:51 AM
Energy prices slumped 3.1 percent from a year earlier, following a 1.8 percent decrease in September. In addition, inflation was flat for services (at 1.5 percent), processed food, alcohol & tobacco (at 1.8 percent), and unprocessed food (at 0.7 percent).
On the other hand, non-energy industrial goods costs rose 0.3 percent, faster than 0.2 percent in the previous month.
Among Eurozone's largest economies, the highest annual rate was recorded in France (0.9 percent) and Germany (0.9 percent), followed by Italy (0.2 percent) and Spain (0.2 percent).
The annual core inflation, which excludes volatile prices of energy, food, alcohol & tobacco and at which the ECB looks in its policy decisions, was also confirmed at 1.1 percent, slightly above 1.0 percent in the previous month.
On a monthly basis, consumer prices advanced 0.1 percent, following a 0.2 percent increase in September and below market consensus of 0.2 percent.