Oct 31, 2022
VOT Research Desk
The mixed Eurozone inflation numbers are having no effect on the common currency, as EUR/USD is still trading in the negative near 0.9940, down 0.25% on the day.
According to the most recent statistics released by Eurostat on Monday, the annualized Harmonized Index of Consumer Prices for the Eurozone (HICP) increased by 10.7% in October compared to a 9.9% increase in September.
A print of 9.8% was expected by the market. Compared to predictions of 4.9% and the 4.8% reported in September, the core statistics increased to 5.0% YoY in October.
In October, the old continent’s HICP increased to 1.5% on a monthly basis, exceeding predictions of 0.6% and the prior reading of 1.2%. The core HICP increased by 0.6% this month, below expectations of 1.2% and 1.0% in July.
A trading day after Germany’s annual inflation for October, which jumped 11.6% and beyond expectations after a 10.9% spike reported in September, the Euro area numbers were released.
The bloc’s HICP data are significant since they aid investors in determining.
The highest annual rate of inflation in the euro area is predicted to be in energy in October (41.9%, up from 40.7% in September), followed by food, alcohol, and tobacco (13.1%, up from 11.8% in September), non-energy industrial goods (6.0%, up from 5.5% in September), and services (4.4%, up from 4.3% in September.
