Eurozone annual HICP inflation rises to 2% in October vs. 1.9% expected
- Annual core HICP inflation in the Eurozone held steady at 2.7% in October.
- EUR/USD trades marginally higher on the day above 1.0850.
The Harmonized Index of Consumer Prices (HICP), the European Central Bank's (ECB) preferred gauge of inflation, rose 2% on a yearly basis in October's flash estimate, Eurostat reported on Thursday. This reading followed the 1.7% increase recorded in September and came in above the market expectation of 1.9%. On a monthly basis, the HICP rose 0.3% after falling 0.1% in September.
The core HICP, which excludes prices of volatile items such as food and energy, rose 2.7% annually, matching the September print.
Market reaction
EUR/USD edges slightly higher following this report and was last seen trading at around 1.0870.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
