Preliminary estimates indicate that the inflation rate in the 19-nation euro zone spiked to a record level of 10.7% in October 2022 from 9.9% in September.
According to data released today, Monday, by the European Statistics Agency, this happened.
In a survey done by the Dailyfx webpage, analysts predicted that the inflation index will only increase to 10.2% in October 2022.
As a result, after reaching a level of 10.7% in October 2022, the inflation index in the euro area has now reached new historical standard levels.
For contrast, the euro area’s inflation rate was 4.1% on an annual basis in the same month a year prior (October 2021).
From Novosti.
The rate of inflation in the euro region is increasing at an unprecedented rate, or “a strong surge.”
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