Growth of Eurozone Consumer Prices Accelerates in October
Annual inflation rate in the Eurozone rose more than expected in October. Eurostat reported, that Eurozone consumer price index (CPI) rose 2.2% yoy in October, accelerating from 2.1% a month earlier. Analysts had expected CPI to hold steady at 2.1%. October's rate is the highest since December 2012 when inflation was also 2.2%.
Meanwhile, core CPI, which excludes volatile items such as energy and food, rose to 1.1% in October from 0.9% in September, above expectations for a gain of 1.0%.
The inflation report is unlikely to change the European Central Bank’s plan to wind up its asset purchase program at the end of this year. Last week the ECB made no changes to its monetary policy, confirming that its €15 billion ($17.1 billion) in monthly asset purchases was still on track until the end of December.
Separate report showed, that unemployment rate in the Eurozone was 8.1% in September, as expected.