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.
