Annual inflation down to 2.9% in euro area, 3.6% in EU in Oct 2023

The annual inflation in the European Union (EU) was 3.6 per cent in the month, down from 4.9 per cent in September, according to the EU statistical office Eurostat. A year earlier, the rate was 11.5 per cent.

The lowest annual rates were registered in Belgium (minus 1.7 per cent), the Netherlands (minus 1 per cent) and Denmark (minus 0.4 per cent).

The highest annual rates were recorded in Hungary (9.6 per cent), Czechia (9.5 per cent) and Romania (8.3 per cent).

Compared with September this year, annual inflation fell in 22 member states and rose in five in the month.

ALCHEMPro News Desk (DS)