Eurozone Preliminary Core CPI unexpectedly rises 1.1% YoY in Oct, beats estimates (EUR little changed)

According to Eurostat’s flash reading of Eurozone CPI report, the annual reading came in at 0.7% in October, meeting expectations of 0.7% and 0.8% previous.

Meanwhile, the core figures unexpectedly accelerate to 1.1% in the reported month when compared to 1.0% expectations and 1.0% previous.

The Eurozone inflation report comes a day after the German Prelim CPI data was released, which showed that the German consumer price inflation accelerated by only 0.9% in October and remained well below the European Central Bank’s (ECB) rate target of just under 2 percent for the Eurozone as a whole.