Eurozone inflation exceeds expectations
Eurozone inflation in October exceeded expectations. The consumer price index rose to 10.7% in annualised terms compared to 9.9% a month prior. When excluding food and energy, prices increased by 5%. The consensus forecast by analysts predicted it would increase to 10.2% and 4.9%, respectively. Although theoretically positive for the euro, these data didn't significantly strengthen the currency, and EUR/USD prices will likely continue to drop.
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