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Eurozone CPI expected to be 0.5% in October

Monday, Oct 31 2016
Eurozone CPI expected to be 0.5% in October

Euro area annual inflation is expected to be 0.5% in October 2016, up from 0.4% in September 2016, according to a flash estimate from Eurostat, the statistical office of the European Union. Looking at the main components of euro area inflation, services is expected to have the highest annual rate in October (1.1%, stable compared with September), followed by food, alcohol & tobacco (0.4%, compared with 0.7% in September), non-energy industrial goods (0.3%, stable compared with September) and energy (-0.9%, compared with -3.0% in September).

Seasonally adjusted GDP rose by 0.3% in the euro area (EA19) and by 0.4% in the EU28 during the third quarter of 2016, compared with the previous quarter. In the second quarter of 2016, GDP had also grown by 0.3% in the euro area and by 0.4% in the EU28. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.6% in the euro area and by 1.8% in the EU28 in the third quarter of 2016, after +1.6% and +1.8% also in the previous quarter.

 

Euro is currently being traded few points above 1.0950 level. Pair is likely to find support around 1.09 handle and resistance above 1.10 area.

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