The annualized Eurozone Consumer Price Index (CPI) rose by 4.1% in October, beating expectations of 3.7% while sharply higher from the previous reading of 3.4%, the latest data published by Eurostat showed on Friday.
The core figures arrived at 2.1% YoY in October when compared to 1.9% expectations and 1.9% booked last.
Key details (via Eurostat)
“Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in October (23.5%, compared with 17.6% in September), followed by services (2.1%, compared with 1.7% in September), non-energy industrial goods (2.0%, compared with 2.1% in September) and food, alcohol & tobacco (2.0%, stable compared with September).”
EUR/USD reaction
EUR/USD is virtually unchanged on rising Eurozone inflation. The spot is currently trading 0.23% lower on the day at 1.1652.