Annual inflation in the euro area was 2.2 percent in October this year, up from 2.1 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 1.4 percent.
Meanwhile, in the European Union (EU-28) annual inflation was 2.2 percent in October, up from 2.1 percent in September. In October 2017, the annual inflation rate in the EU-28 was 1.7 percent.
The lowest inflation rates in October this year were observed in Denmark (0.7%), Portugal (0.8%) and Ireland (1.1%), whereas the highest annual rates were recorded in Estonia (4.5%), Romania (4.2%) and Hungary (3.9%). Compared with September, in October annual inflation rose in 14 member states, remained stable in five and fell in eight.