Inflation in eurozone lower in October

Annual inflation in the eurozone slipped to 2.5 per cent in October, down from 2.6 per cent in September.

Similarly, inflation in the European Union dropped from 2.7 per cent in September to 2.6 per cent in October.

The figures from European Union statistical office Eurostat, revealed the lowest rates were seen in Greece with 0.9 per cent inflation. Low rates were observed in Sweden, which had inflation of 1.2 per cent, and Latvia with 1.6 per cent.

The highest rates were observed in Hungary, which had a rate of inflation of 6 per cent, Romania had a high rate of 5 per cent and Estonia saw inflation of 4.2 per cent.

Compared with September 2012, Eurostat reports, annual inflation fell in thirteen member states, remained stable in four and rose in ten.
Transport, alcohol & tobacco and housing were all components of inflation with high annual rates, during October. Communications, recreation & culture, clothing and household equipment saw the lowest rates.