Life in the eurozone has again become significantly more expensive this month. Prices in the euro countries rose 10.7 percent in October compared to a year earlier, and the European statistical office Eurostat reports based on preliminary figures.
Never before has inflation in the euro area been so high.
In September, inflation was still 9.9 percent. Moreover, the inflation increase is stronger than economists had anticipated. Energy prices still account for most of the currency depreciation by far. Food prices also rose more strongly.
Compared to September, consumers and businesses were 1.5 percent more expensive. That is also more than expected.
Earlier in the day, the Central Bureau of Statistics already announced that inflation in the Netherlands this month amounted to 16.8 percent according to the European measurement method. In September, that was still 17.1 percent.
Only in the Baltic States is inflation even higher. Of the countries that already provided data, prices rose the least in France. Consumers there paid 7.1 percent more than a year earlier.