Euro area annual inflation down to 2.5%
Euro area annual inflation was 2.5% in October 2012, down from 2.6% in September. A year earlier the rate was 3%. Monthly inflation was 0.2% in October 2012. EU annual inflation was 2.6% in October 2012, down from 2.7% in September. A year earlier the rate was 3.4%. Monthly inflation was 0.3% in October 2012.
These figures come from Eurostat, the statistical office of the European Union.
In October 2012, the lowest annual rates were observed in Greece (0.9%), Sweden (1.2%) and Latvia (1.6%), and the highest in Hungary (6.0%), Romania (5.0%) and Estonia (4.2%). Compared with September 2012, annual inflation fell in thirteen Member States, remained stable in four and rose in ten. Malta registered an annual rate of 3.2%.
The lowest 12-month averages up to October 2012 were registered in Sweden (0.9%), Greece (1.4%) and Ireland (1.9%), and the highest in Hungary (5.5%), Estonia (4.3%) and Poland (4.0%). Malta’s 12 month average stood at 3%.
The main components with the highest annual rates in October 2012 were transport (4.1%), alcohol & tobacco and housing (both 4.0%), while the lowest annual rates were observed for communications (-3.5%), recreation & culture (1.0%), clothing and household equipment (both 1.2%). Concerning the detailed sub-indices, fuels for transport (+0.32 percentage points), heating oil (+0.10) and electricity (+0.09) had the largest upward impacts on the headline rate, while telecommunications (-0.19), cars (-0.08) and garments (-0.07) had the biggest downward impacts.
The main components with the highest monthly rates were clothing and education (both 2.2%) followed by alcohol & tobacco (0.9%), while the lowest monthly rates were observed for transport (-0.6%), communications (-0.4%), recreation & culture and hotels & restaurants (both -0.3%). In particular, garments (+0.10 percentage points), footwear, vegetables and tobacco (+0.03 each) had the largest upward impacts, while fuels for transport (-0.13), accommodation services (-0.05) and package holidays (-0.04) had the biggest downward impacts.