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- Eurozone final CPI revised higher to 0.8% MoM in October
Eurozone final CPI revised higher to 0.8% MoM in October
- Eurozone inflation arrives at 4.1% YoY in October.
- Monthly CPI in the bloc rises to 0.8% in October.
- EUR/USD remains unfazed around 1.1315 on the EZ data.
According to Eurostat’s final reading of the Eurozone CPI report for October, the consumer prices came in at 4.1% on a yearly basis, in line with the flash estimate of 4.1% and 4.1% expectations. While the core figures rose by 2%, missing the 2.1% consensus forecasts.
On a monthly basis, the bloc’s CPI figure for October arrived at 0.8% versus 0.8% expectations and 0.5% previous while the core CPI numbers came in at 0.3% versus 0.3% expected and 0.3% last.
Key details (via Eurostat):
“The lowest annual rates were registered in Malta (1.4%), Portugal (1.8%), Finland and Greece (both 2.8%). The highest annual rates were recorded in Lithuania (8.2%), Estonia (6.8%) and Hungary (6.6%). Compared with September, annual inflation rose in all twenty-seven Member States.”
“In October, the highest contribution to the annual euro area inflation rate came from energy (+2.21 percentage points, pp), followed by services (+0.86 pp), non-energy industrial goods (+0.55 pp) and food, alcohol & tobacco (+0.43 pp).”
FX implications:
EUR/USD is almost unchanged on the day at 1.1313 on the data release.
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