Eurozone inflation hit 2% in October, exceeding forecasts and up from September’s 1.7%, driven by services and food prices. Germany witnessed unexpected price increases. The euro strengthened.
Inflation in the eurozone accelerated in October, with the consumer price index reaching 2% year-over-year, surpassing economist predictions of 1.9% and marking an uptick from 1.7% in September, according to flash estimates by Eurostat.
Despite hovering at the ECB targets, the recent uptick in prices is rekindling questions about how inflation might impact the Bank’s monetary policies in the coming months.
In a separate release, the Eurostat also revealed the unemployment rate within the euro area held at a record-low level of 6.3% in October.
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Source: https://www.euronews.com/business/2024/10/31/eurozone-inflation-tops-estimates-in-october-could-this-affect-ecb-policies
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