Annual inflation in the euro area was 1.4 percent in October this year, down from 1.5 percent in September, according to a report released by Eurostat, the Statistical Office of the European Communities. In October last year, the annual inflation rate was 0.5 percent.
Meanwhile, in the European Union (EU-28) annual inflation was 1.7 percent in October, down from 1.8 percent in September. In October 2016, the annual inflation rate in the EU-28 was 0.5 percent.
The lowest inflation rates in October this year were observed in Cyprus (0.4%), Ireland, Greece and Finland (all 0.5%), whereas the highest annual rates were recorded in Lithuania (4.2%), Estonia (4.0%) and the United Kingdom (3.0%). Compared with September, annual inflation fell in 14 member states, remained stable in five and rose in nine.