Eurozone Inflation Slows in October

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Euro area inflation accelerated further in October, albeit at a slightly slower than initially estimated pace, final data from Eurostat shows.

Annual inflation rose to 10.6% in October from 9.9% in September. In the same month last year, prices had advanced only 4.1%.

Although the annual rate was revised down from the initial estimate of 10.7%, it was the highest on record.

Core inflation that excludes energy, food, alcohol & tobacco, increased to 5% from 4.8% a month ago.

On a monthly basis, the harmonized index of consumer prices moved up 1.5% in October, as initially estimated.

Within the HICP, the biggest annual price growth was registered by energy, up 41.5%.

This was followed by a 13.1% rise in food, alcohol and tobacco prices.

Non-energy industrial goods prices and services cost grew 6.1% and 4.3%, respectively.

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