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October 2013: Euro area annual inflation down to 0.7% – EU down to 0.9%

Euro area annual inflation was 0.7% in October 2013, down from 1.1% in September. A year earlier the rate was 2.5%. Monthly inflation was -0.1% in October 2013.

European Union annual inflation was 0.9% in October 2013, down from 1.3% in September. A year earlier the rate was 2.6%. Monthly inflation was -0.1% in October 2013. [These figures come from Eurostat, the statistical office of the European Union.]

In October 2013, the lowest annual rates were observed in Greece (-1.9%), Bulgaria (-1.1%) and Cyprus (-0.5%), and the highest in Estonia and the United Kingdom (both 2.2%) and Finland (1.7%). Compared with September 2013, annual inflation fell in twenty-three Member States, remained stable in one and rose in four. The lowest 12-month average rates up to October 2013 were registered in Greece (-0.4%), Latvia (0.3%) and Sweden (0.5%), and the highest in Romania (3.7%), Estonia (3.5%), Croatia and the Netherlands (both 2.9%).

The largest upward impacts to euro area annual inflation came from electricity (+0.11 percentage points), accommodation services (+0.09) and tobacco (+0.08), while fuels for transport (-0.31), telecommunications (-0.16) and heating oil (-0.08) had the biggest downward impacts.