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Eurozone inflation rose to a record 10.6% in October, a tenth less than expected


The euro area’s annual inflation rate stood at 10.6% in October, marking a new all-time record and a seven-tenths percent acceleration from September’s figure. According to the European Central Bank (ECB), Community Statistics Office, Eurostat, which thus reduced the data by one tenth compared to the first estimate. Spain has the second lowest inflation in the euro zone, with 7.3%, three percentage points below the European average.

The Iberian exception and transport subsidies make Spain the only major country in the EU where inflation is low

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In October, there was a general increase in prices in the euro area, led by an increase in energy prices, which rose 41.5% in the tenth month of the year, compared to 40.7% year-on-year in September.

Similarly, fresh food became more expensive in October by 15.5%, which represents an acceleration compared to 12.7% in the previous month. Services posted inflation of 4.3% in September data and non-energy industrial goods rose 6.1% year-on-year, six tenths higher than in September.

Excluding the impact of energy from the calculation, the annual inflation rate in the euro zone was 6.9% in October, compared with 6.4% the previous month, and excluding the impact of fresh food, alcohol and tobacco prices, inflation under it reached a record 5%, up two tenths from September. is more

Of the twenty-seven, a total of 18 countries recorded annual price increases of at least 10%. The highest inflation rates were observed in Estonia (22.5%), Lithuania (22.1%), Hungary (21.9%) and Latvia (21.7%).

For their part, only nine EU countries registered an increase of less than 10%, the lowest intensity being registered in France (7.1%), Spain (7.3%) and Malta (7.4%).

Thus, the favorable price differential for Spain with respect to the euro area increased to 3.3 percentage points in October from 0.9 points in the previous month.

By comparison, UK prices rose to 11.1% in October from 10.1% in September, a 41-year high.

In the United States, CPI stood at 7.7% in October, half a percentage point lower than September’s figure, thus ending a four-month streak of moderation, the slowest sharp increase since last January.

Source: eldiario.es/

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