Eurozone Inflation Falls in October

Eurozone inflation in October fell to 0.7%, its lowest since February 2010, thanks to a fall in energy costs.

Official figures also showed the currency bloc’s unemployment at another record high in September.

The figures increase pressure on the European Central Bank (ECB) to cut interest rates further.

Core inflation, which does not include energy, food, alcohol and tobacco, also fell from an annual rate of 1.4% to 1.1%.

The jobless rate in the 17 euro-using countries was unchanged from August’s figure, although that month’s rate was revised up to 12.2%.

However, the Eurostat agency said that 60,000 more Europeans were unemployed than in the month before.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza