Eurozone annual HICP inflation rises to 2% in October vs. 1.9% expected
|- Annual core HICP inflation in the Eurozone held steady at 2.7% in October.
- EUR/USD trades marginally higher on the day above 1.0850.
The Harmonized Index of Consumer Prices (HICP), the European Central Bank's (ECB) preferred gauge of inflation, rose 2% on a yearly basis in October's flash estimate, Eurostat reported on Thursday. This reading followed the 1.7% increase recorded in September and came in above the market expectation of 1.9%. On a monthly basis, the HICP rose 0.3% after falling 0.1% in September.
The core HICP, which excludes prices of volatile items such as food and energy, rose 2.7% annually, matching the September print.
Market reaction
EUR/USD edges slightly higher following this report and was last seen trading at around 1.0870.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.