10/31/2022, 11:00 AM (Source: TeleTrader)
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Inflation in Eurozone at record 10.7% in October

The annual inflation rate in the Eurozone (EA19) is expected to come in at 10.7% in October, surpassing expectations and rising from 9.9% recorded in September to its new record value, the European Commission's statistical office Eurostat said in its preliminary report released on Monday.

Energy is projected to achieve the highest annual rate and reach 41.9%. It was predicted that energy is to be followed by food, alcohol and tobacco with the rate of 13.1%, non-energy industrial goods with 6.0%, and services with 4.4%.

Among the countries that belong to the euro area, the report estimated the highest annual inflation rate will be noted in Estonia, where it will hit 22.4%.

Baha Breaking News (BBN) / JR