ZURICH (MaceNews) – Inflation in the countries sharing the euro rose 4.1% in October, according to final figures released today by Eurostat, and confirmed the preliminary result.
Energy prices were the main driver of the gain as they were 23.7% higher than year ago levels, and contributed 2.21 percentage points to the overall increase, according to Eurostat.
Narrow core inflation which excludes energy, food, alcohol and tobacco rose 2.0% from October of last year and moderating from the 2.1% preliminary reading.
Economists in an Econoday survey expected both the HICP and narrow core measure to be unchanged from the preliminary results of 4.1% and 2.1%, respectively.
Inflation by major category in October from a year ago and contribution to growth:
- Food, alcohol and tobacco +1.9% Y/y; Contribution 0.43 ppt
- Energy +23.7% Y/y; Contribution 2.21 ppt
- Non-energy industrial goods +2.0% Y/y; 0.55 ppt
- Services +2.1% Y/y; 0.86 ppt
Inflation by major country in October from a year ago:
— Germany +4.6% Y/y
— Spain +5.4% Y/y
— France +3.2% Y/y
— Italy +3.2% Y/y
— Netherlands +3.7% Y/y
—
Content may appear first or exclusively on the Mace News premium service. For real-time delivery contact tony@macenews.com. Twitter headlines @macenewsmacro.