Eurozone Inflation Revised Upward to 0.1%

Inflation in the eurozone has been revised up to 0.1% in October by the EU’s statistics agency, Eurostat.

Prices grew in vegetables, restaurants and fruit in October, while fuel prices were considerably lower than last year.

It had previously given a flash estimate of a zero rate of inflation, saying falling energy prices had offset food price growth.

Prices remain subdued, keeping pressure on the European Central Bank (ECB) to revise monetary policy.

In October, prices for vegetables rose 9.4% and fruit was 6.2% higher. Restaurant prices were up 1.5%.

The main factor that kept prices from rising further in October remained energy, the cost of which was 8.5% lower than 12 months earlier.
Of the eurozone countries, Cyprus had the lowest October annual inflation rate at -1.8%, while Malta had the highest rate at 1.6%.

via BBC

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