Inflation in the eurozone rose again in October after holding steady the previous month, moving further above the European Central Bank (ECB) target figure The eurozone's annual rate of inflation, as measured by the harmonised index of consumer prices, rose to 2.2pc in October from 2.1pc in September, statistics office Eurostat said in its provisional or "flash" estimate today
Inflation had risen in the three months to August - jumping from 1.8pc in May to 2.1pc - before stalling in September. The estimated rise in the level of inflation in October, though less than the jump to 2.3pc expected by some analysts, means inflation has remained above the ECB's upper limit of 2pc for the third month in a row
In a separate release, Eurostat reported that retail sales in the eurozone rose 0.8pc in August from July and were up 1.5pc from the same month a year earlier. The month-on-month increase was larger than had been forecast and was driven by sales of food, drinks and tobacco, which rose by 0.7pc, and pharmaceutical goods, up 0.8pc //www.fxcentre.com