Eurozone annual inflation hit record 10.6% in October, below forecast

On monthly basis, consumer price index up 1.5% in October, Eurostat data shows

By Tuba Sahin

ANKARA (AA) - Euro area annual consumer inflation hit a record high of 10.6% in October, below forecasts, according to Eurostat data released Thursday.

The figure was up from 9.9% in September and 4.1% in October 2021, Eurostat said.

Provisional data had projected a 10.7% annual hike in consumer prices for the month.

The rise mainly stemmed from higher prices for energy, up 41.5% year-on-year in October. Food, alcohol and tobacco followed with a 13.1% jump from a year ago.

EU annual inflation came in at 11.5% in October, up from 10.9% in September.

The highest annual rates were seen in Estonia (22.5%), Lithuania (22.1%), and Hungary (21.9%), while the lowest were seen in France (7.1%), Spain (7.3%), and Malta (7.4%).

On a monthly basis, the eurozone's consumer price index rose 1.5% in October.

Energy prices posted a month-on-month rise of 6.2% in October.

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