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2025-10-31 18:10:56
[Eurozone Inflation Remains Stubborn: Accelerating Services Inflation Offsets Energy Price Decline] ⑴ The Eurozone's preliminary inflation rate for October was 2.1%, in line with market expectations, down 0.1 percentage points from September's 2.2%. ⑵ Core inflation (excluding energy, food, and tobacco) remained unchanged at 2.4%, higher than the market expectation of 2.3%. ⑶ Services inflation accelerated to 3.4%, up 0.2 percentage points from September's 3.2%, becoming the main factor supporting core inflation. ⑷ Energy prices fell by 1.0% year-on-year, a larger decline than September's 0.4%, putting downward pressure on overall inflation. ⑸ The price increase for food, alcohol, and tobacco narrowed to 2.5%, with the price increase for unprocessed food falling significantly from 4.7% to 3.2%. ⑹ Non-energy industrial goods inflation slightly decreased to 0.6%, down 0.2 percentage points from September's 0.8%. (7) Looking at monthly changes, overall prices rose 0.2% month-on-month in October, with core commodity prices rising 0.3% month-on-month, indicating that inflationary pressures persist. (8) The tug-of-war between rising service sector prices and falling energy prices has kept the inflation rate hovering around the European Central Bank's 2% target.
