Eurozone inflation rate in October confirmed at 2%

By Tuba Ongun

ANKARA (AA) – The eurozone's annual consumer inflation rate in October was confirmed at 2%, according to a second reading released on Tuesday.

The annual hike in consumer prices accelerated from September's 1.7%, following two consecutive months of slowdown, Eurostat data showed.

Core inflation, excluding volatile food and energy prices, was constant at 2.7% last month.

Energy prices fell 4.6% at an annual pace in October, easing from 6.1% in the prior month.

Annual inflation in the EU also accelerated to 2.3% in the month, from 2.1% in September.

The lowest annual rates were seen in Slovenia (0.0%), Lithuania, and Ireland (both 0.1%), while the highest were in Romania (5.0%), Belgium, and Estonia (both 4.5%).

On a monthly basis, the eurozone's consumer price index increased 0.3% in October, as initially estimated.

The eurozone/euro area, or EA19, represents member states that use the single currency—the euro—while the EU27 includes all member countries of the bloc.