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Euro-Area Core Inflation at Two-Year High May Offer ECB Relief

  • Core inflation rate unexpectedly revised to 1.1% in October
  • Consumer prices rose 0.1%, up from initial stagnation reading
Updated on

Euro-area core inflation increased to the highest since August 2013, offering the European Central Bank an unexpected reprieve.

The rate -- which excludes volatile elements such as food and energy -- climbed to 1.1 percent in October, the European Union’s statistics office in Luxembourg said on Monday. Economists predicted it would stay at an initial 1 percent reading. Annual consumer prices rose 0.1 percent in the month, compared with a flash estimate for stagnation and up from minus 0.1 percent in September.