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.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
