Eurozone inflation climbs to record 10.7% in October

The general rate is eight tenths above the maximum recorded last September Core inflation has reached a record 5%, two tenths more than in SeptemberThe increase in energy prices accelerates, growing by almost 42% year-on-yearIn October has observed a general rise in prices in the eurozone, with an acceleration in the rise in energy prices, which grew by 41.9% in the tenth month of the year, compared to 40.7% year-on-year in September. fresh foods became 15.4% more expensive in October, which represents an acceleration compared to the 12.7% of the previous month. Services registered an inflation of 4.4%, one tenth more, and non-energy industrial goods have risen 6% annually, half a percentage point more than in September. By excluding the impact of energy from the calculation, the inflation rate year-on-year in the euro zone stood at 6.9% in October, compared to 6.4% in the previous month, while also excluding the effect of the prices of fresh food, alcohol and tobacco, the core inflation rate has reached a record 5%, two tenths more than in September. Differences between countries Among the nineteen countries in the euro zone, eleven have recorded annual price increases of at least 10%. The highest inflation rates have been observed in Estonia (22.4%), Lithuania (22%) and Latvia (21.8%), while the least intense have been in France (7.1%), Spain (7 .3%) and Malta (7.5%). Last week, the Governing Council of the European Central Bank (ECB) raised interest rates by 75 basis points in July, to 2%, thus chaining three consecutive rises of the price of money and warning that it will continue to raise the rate in future meetings, although the pace and intensity of the increases will be decided “meeting by meeting” based on the data.