Eurozone Inflation Ticks Down in October

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By Trey Thoelcke Published

The EU statistics agency Eurostat reported today that inflation in the eurozone eased due to a deceleration in the growth of energy prices.

The agency’s flash estimate of consumer inflation in the eurozone countries was 2.5% year-on-year, down from 2.6% in September. Still that was above the European Central Bank target of less than 2%.

The biggest inflation contributor was energy. Prices increased 7.8% year-on-year in October. However, that was more slowly than in September, when they rose 9.1% year-on-year. The cost of food, alcohol and tobacco rose 3.2% year-on-year, compared with 2.9% the month before.

Part of the reason inflation pressures in the eurozone are low is because unemployment is a record levels. Eurostat reported separately that the unemployment rate in the eurzone was 11.6% in September, the highest level since 1995.

The agency said 18.49 million people were without jobs, and increase of 146,000 from the month before.

In order to support the slowing economy, the European Central Bank is expected to cut interest rates again before the end of the year from the current record low of 0.75%. The region likely sank into a recession in the third quarter.

The Eurostat press release is available here.

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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