Inflation stabilizes in October from the prior month

Latest reading: Harmonized consumer prices rose 3.0% on a year-on-year basis in October, stable from the previous month's reading but above the euro area average of 2.1% Relative to the prior month's figures, there were higher price pressures for transportation (+3.9% year-on-year vs +2.1% in September), recreation (+3.2% vs +2.4% in September) and restaurants and hotels (+4.5% vs +4.3% in September). In contrast, there were reduced price pressures for housing and utilities (+3.9% vs +4.8% in September); still, energy costs increased, contrasting the euro area’s decline. Finally, the change in food and non-alcoholic beverages prices was the same as in the prior month (+4.3% in both October and September). Meanwhile, consumer prices rose 3.1% on a year-on-year basis in October, following a 3.3% increase in the prior month. This figure matched the flash estimate published on 31 October. Lastly, harmonized consumer prices were up 0.60% in October on a month-on-month basis, following a 0.31% decline in the previous month.

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