Inflation & Prices
Euro-Zone Inflation Sinks to 2-Year Low as Economy Contracts
- Consumer prices up 2.9% from year ago in October; est. 3.1%
- 3Q GDP fell 0.1% from previous quarter as rate hikes weigh
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Euro-area inflation eased to its lowest level in more than two years as the bloc’s economy shrank following an unprecedented ramp-up in interest rates.
Consumer prices rose 2.9% in October — down from the previous month’s 4.3% and better than the 3.1% median estimate in a Bloomberg survey analysts. In a separate release, Eurostat said third-quarter gross domestic product fell 0.1% — missing estimates for stagnation.