Annual inflation in the Euro area is expected to have surged to a 13-year high in October, driven mainly by higher energy and services prices. IEV is down 0.53% premarket.
- Inflation is expected to clock in at 4.1% in October, up from 3.4% in September and -0.3% in October.
- Should it be realized, the figure is the fastest in 13 years since July 2008 and higher than the market consensus of 3.7%.
- Energy prices are expected to have the highest annual rate, up by 23.5% in October versus 17.6% in September.
- Higher prices were also recorded in services, non-energy industrial goods, and food, alcohol, and tobacco.
- The fastest annual inflation was seen in Lithuania, followed by Estonia, Latvia, Spain, and Belgium.
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