Eurozone Inflation Falls in October

Eurozone inflation in October fell to 0.7%, its lowest since February 2010, thanks to a fall in energy costs.

Official figures also showed the currency bloc’s unemployment at another record high in September.

The figures increase pressure on the European Central Bank (ECB) to cut interest rates further.

Core inflation, which does not include energy, food, alcohol and tobacco, also fell from an annual rate of 1.4% to 1.1%.

The jobless rate in the 17 euro-using countries was unchanged from August’s figure, although that month’s rate was revised up to 12.2%.

However, the Eurostat agency said that 60,000 more Europeans were unemployed than in the month before.

via BBC

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