Eurozone inflation eased in October, official data showed on Friday, thanks to a faster fall in energy costs and a slowdown in the rate of food and drink price rises.
Consumer price rises reached 2.1 per cent this month, moving closer towards the European Central Bank’s two-per cent target. The figure was in line with forecasts by analysts surveyed by Bloomberg and FactSet.
The data will reinforce the ECB’s view that inflation is in check after the Bank decided to keep interest rates unchanged again on Thursday.
Core inflation, which strips out volatile energy, food, alcohol and tobacco prices, was also unchanged at 2.4% in October from the previous month, disappointing expectations that it would slow to 2.3%.
Energy costs, however, fell further by 1.0% in October – a significantly larger decline than the 0.4% recorded in September, Eurostat data showed.
Food, alcohol, and tobacco price rises eased to 2.5% this month, from 3.0% the previous month.
Consumer price rises in Germany and France, the EU’s biggest economies, also slowed in October to 2.3% and 0.9% respectively, Eurostat said.
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