Euro area inflation rises to 2.0% in October ’24 – flash estimates

Annual inflation in the euro area is expected to increase to 2.0 per cent in October 2024, up from 1.7 per cent in September, according to a flash estimate from Eurostat released on Thursday.

Among the main components of euro area inflation, services set to record the highest annual rate at 3.9 per cent, remaining stable compared to September.

Food, alcohol, and tobacco followed with an annual rate of 2.9 per cent, up from 2.4 per cent in September. Non-energy industrial goods are expected to see a slight increase to 0.5 per cent from 0.4 per cent in the previous month.

Energy prices, although still in decline, are projected a less marked fall at -4.6 per cent, compared to -6.1 per cent in September.