Eurozone Inflation Slowed to 1.4% in October

Inflation in the Eurozone unexpectedly slowed in October, despite the strengthening of the economy. The growth of consumer prices fell to 1.4% in October from 1.5% in September, which does not correspond to the median forecast of economists. Core inflation, which excludes unstable goods, such as food and energy prices, fell to 0.9% in October from 1.1% in September.

Data on inflation were published along with figures of gross domestic product for the third quarter. Eurozone GDP grew by 0.6% in the third quarter. In annual terms, GDP reached 2.5%, which is the best indicator since the beginning of 2011.

The euro fell against the US dollar after the release of the report on GDP and inflation. The euro/dollar pair fell by 0.2% to the level of 1.1631.