Eurozone CPI was finalized at 2.1% yoy in October, edging down from September’s 2.2% and keeping headline inflation close to the ECB’s target. Core CPI held steady at 2.4% yoy, unchanged from the previous month.
Services remained the dominant driver of inflation in Eurozone, contributing +1.54 percentage points, followed by food, alcohol and tobacco at +0.48 pp, while energy once again exerted a mild drag by -0.08pp.
Across the EU, inflation softened slightly to 2.5% yoy from September’s 2.6%. Price dynamics continued to diverge sharply across member states: Cyprus recorded the lowest annual rate at 0.2%, followed by France (0.8%) and Italy (1.3%). At the other end of the spectrum, Romania remained an outlier at 8.4%, with Estonia (4.5%) and Latvia (4.3%) also posting elevated readings. Compared with the previous month, inflation eased in fifteen member states, held steady in three, and increased in nine.
