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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

November 15, 2019
EU AND EURO AREA CONSUMER PRICE INFLATION, OCTOBER 2019

In October, the year-over-year inflation rate was down to 1.1 per cent in the European Union and to 0.7 per cent in the Euro Area.  

Among member states, the fastest year-over-year inflation was reported in Romania, Hungary, Slovakia and Netherlands, while the lowest inflation was reported in Belgium, Italy, and Spain. Prices declined in Cyprus, Greece and Portugal.

In October 2019 food price inflation fell to 2.0 per cent (year-over-year) in the European Union and remained at 1.3 per cent in the Euro Area.

Year-over-year energy inflation continued to decline in October, declining 2.7 per cent in the European Union and 3.1 per cent in the Euro Area compared to October 2018.

Excluding the impacts of volatile energy, food, alcohol and tobacco prices, year-over-year inflation has been more subdued in Europe. In October 2019, the CPI excluding food, energy, alcohol and tobacco was 1.3 per cent in the European Union and 1.1 per cent in the Euro Area. 

Note, Methodological changes was made to data starting in 2015, so the year-over-year inflation rates calculated between 2015 and 2014 are based on different methodologies for the HICP.

Source: Eurostat-News Release

Statistics Canada.  Table  18-10-0004-01   Consumer Price Index, monthly, not seasonally adjusted



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