In October 2024, the annual inflation rate in the euro area increased to 2.0%, up from 1.7% in September but lower than the 2.9% recorded in October 2023, according to Eurostat, the statistical office of the European Union.
In October 2024, the annual inflation rate in the euro area increased to 2.0%, up from 1.7% in September but lower than the 2.9% recorded in October 2023, according to Eurostat, the statistical office of the European Union. Inflation in the European Union also rose, reaching 2.3% in October, compared to 2.1% in September. However, this marked a decline from the 3.6% rate reported in October 2023.
The lowest inflation rates were observed in Slovenia (0.0%), and both Lithuania and Ireland (0.1%). Conversely, Romania recorded the highest rate at 5.0%, followed by Belgium and Estonia, both at 4.5%. Compared to September 2024, inflation decreased in two Member States, remained stable in six, and increased in nineteen.
In October 2024, services were the largest contributor to the euro area’s annual inflation, accounting for +1.77 percentage points. Food, alcohol, and tobacco followed, contributing +0.56 percentage points. Non-energy industrial goods added +0.13 percentage points, while energy prices continued to exert a downward pressure, subtracting -0.45 percentage points from the overall inflation rate.
Source: Eurostat
The euro hovered near 1.05, supported by expectations of a 25-basis-point rate cut from the ECB, while the yen slipped below 155.5 per dollar, pressured by U.S. tariff threats but strengthened by the BOJ’s hawkish stance.
Detail Tariff Tensions and Fed Outlook Drive Euro, Yen Gains, and Metal Rallies (01.27.2025)Global markets are reacting to renewed trade tensions and shifting expectations for central bank policies. The euro struggles against the dollar amid concerns over President Trump’s new tariffs, while the yen gains on hawkish BOJ signals and strong inflation data.
Detail
Markets Shift as Eased Inflation Fears Weigh on Dollar (27 - 31 Jan)The dollar index fell as Trump’s policies eased inflation concerns, with no mention of China tariffs at the World Economic Forum. The euro rose to $1.05, supported by a weaker dollar, improving Eurozone PMIs, and expected ECB rate cuts. The yen strengthened as the BoJ raised rates to 0.5%, its highest in 16 years, with core inflation hitting 3% and potential further hikes ahead.
DetailThen Join Our Telegram Channel and Subscribe Our Trading Signals Newsletter for Free!
Join Us On Telegram!
