Annual inflation in October up to 0.5% in the Euro Area and +0.5 % in EU
Euro area annual inflation was 0.5 % in October 2016, up from 0.4 % in September. In October 2015 the rate was 0.1 %. European Union annual inflation was 0.5 % in October 2016, up from 0.4 % in September. A year earlier the rate was 0.0%. These figures come from Eurostat, the statistical office of the European Union
In October 2016, negative annual rates were observed in six Member States. The lowest annual rates were registered in Bulgaria and Cyprus (both -1.0 %). The highest annual rates were recorded in Belgium (1.9 %) and Austria (1.4 %). Compared with September 2016, annual inflation fell in six Member States, remained stable in one and rose in twenty-one.
The largest upward impacts to euro area annual inflation came from restaurants & cafés (+0.07 percentage points), rents and tobacco (both +0.04 percentage points), while gas (-0.12 percentage points), vegetables (-0.06 percentage points) and milk, cheese & eggs (-0.05 percentage points) had the biggest downward impacts.
The euro area consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
The European Union includes Belgium, Bulgaria, the Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United Kingdom.
The euro area and European Union data refer to the respective country compositions at a specific point in time. New Member States are integrated into the aggregates using a chain index formula.
A flash estimate of euro area inflation is issued at the end of each reference month. The Euro Area flash estimate for October 2016, published on October 30, 2016, was 0.5 %.