Eurozone annual inflation up to 10.7%
Preliminary data from Europe’s statistics office showed that annual inflation across nineteen European countries accelerated sharply in October to achieve 10.7 percent, up from 9.9 percent a month earlier – as reported by RIA Novosti
Analysts polled by the DailyFX portal expected the rate to accelerate to only 10.2 percent.
Thus, the preliminary rate of inflation in the Euro area again updated the maximum in the entire history of the existence of this currency bloc. A year earlier, inflation in the Eurozone was only 4.1 percent per annum.
In October 2022 alone, consumer prices in the Euro area, according to preliminary data, increased by 1.5 percent. At the same time, core annual inflation accelerated to 5 percent from 4.8 percent a month earlier.
The highest annual inflation in October was recorded in Estonia (22.4 percent). Latvia is placed second (21.8 percent), while Lithuania closed the top three (21 percent). The lowest inflation was observed in France (7.1 percent), Spain (7.3 percent) and Malta (7.5 percent).
