Euro Area CPI Slows in October 2023
In today’s flash estimate by Eurostat, the Euro area annual inflation rate for October 2023 is projected to be 2.9%, marking a decline from September’s 4.3%. This slowdown in inflation comes as multiple components within the CPI exhibit differing trends.
Breaking Down the Components
Food, alcohol, and tobacco lead the main components of Euro area inflation, albeit at a slightly reduced rate. The estimate for October stands at 7.5%, down from 8.8% in September. Services, another significant segment, is also expected to see a marginal dip at 4.6% in October from 4.7% the previous month. Non-energy industrial goods show a similar trend, projected at 3.5% for October compared to 4.1% in September.
Energy Prices Pulling Back
Interestingly, energy prices demonstrate the most…
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