Euro area inflation hits record 10.6% in October

EPA/ETIENNE LAURENT

The annual inflation rate in the euro area in October was revised down to 10.6% in Eurostat's new estimate on Thursday. The previous report, published at the end of October, put the yearly price rise at 10.7%, a record high. In the European Union, inflation reached 11.5%. Compared to September 2022, prices increased by 1.5% in the Eurozone and 1.4% in the EU.

The core Harmonised Index of Consumer Prices (HICP), the index without energy, food, alcohol & tobacco, climbed to 5% on a yearly basis, or 0.6% monthly. The biggest contributors to inflation were energy at 4.44 percentage points, food, alcohol & tobacco at 2.74 percentage points, services at 1.82, and non-energy industrial goods at 1.62.

Baha Breaking News (BBN) / DJ