On a monthly basis, the inflation rate has increased Eurozone by 1.5 percent in October compared to the previous month.
The core inflation rate – which excludes energy, food, alcohol and tobacco prices – also rose by 5 percent year-on-year in October, in line with expectations, from 4.8 percent in September.
In an effort to curb inflation, raise European Central Bankthe interest rate by 75 basis points last month, for the second consecutive time by that amount, as it previously raised it by 75 basis points in September, after announcing a 50-point hike in July, the first in 11 years.
The European Central Bank faces a major challenge to reduce inflation, which is more than 5 times its 2% target, and is expected to remain above this target through 2024, which increases the risks of its entrenchment at such high levels.
“>
And he came inflation Driven mainly by rising energy and food prices, it came in lower than expected, rising 10.7% year-on-year.
On a monthly basis, the inflation rate has increased Eurozone by 1.5 percent in October compared to the previous month.
The core inflation rate – which excludes energy, food, alcohol and tobacco prices – also rose by 5 percent year-on-year in October, in line with expectations, from 4.8 percent in September.
In an effort to curb inflation, raise European Central Bankthe interest rate by 75 basis points last month, for the second consecutive time by that amount, as it previously raised it by 75 basis points in September, after announcing a 50-point hike in July, the first in 11 years.
The European Central Bank faces a major challenge to reduce inflation, which is more than 5 times its 2% target, and is expected to remain above this target through 2024, which increases the risks of its entrenchment at such high levels.
