London, Monday, 31 October 2022
The annual inflation rate in the Euro Area increased to 10.7% in October 2022 from 9.9% in September as it continued to break records. According to preliminary calculations, figures exceeded 10.2% market expectations.
Energy prices continue to have the greatest influence (up 41.9% from September's 40.7%), followed by food, drink, and tobacco (up 13.1% from September's 11.8%), non-energy industrial products (down 6% from September's 5.5%), and services (up 4.4% from September).
Consumer prices increased by 1.5% from the previous month, which is the largest increase in seven months.
(Source: EUROSTAT // Report by: The Decision Maker – Finance editors)