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Euro Zone Exits Deflation; Unemployment Falls

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Euro zone inflation flatlined in October, according to a flash estimate on Friday from Eurostat, the statistical office of the European Union.

The 19-country euro area posted no gains in prices on average this month, year-on-year, following a 0.1 percent decline in September.

The figure is still a far cry from the target of “close to” 2 percent set by the European Central Bank and may provide further impetus for the bank to extend the duration of its 1 trillion euro ($1.1 trillion) monetary stimulus program or broaden the scope of the assets that can be purchased under the plan.

Euro area unemployment came in 10.8 percent in September, narrowly down from 10.9 percent in August 2015 and down from 11.5 percent in September 2014, Eurostat reported on Friday.

CNBC

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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