Home » Currency Note » Currency Note » Currency Note EUR » EUR: inflation hits 2.2% in October

It was a decent end to the week for the euro as it made some healthy gains against the dollar and made a little bit of ground against the pound. The previous day it made some significant gains against sterling as Brexit uncertainty continues to affect sterling. The pound was hovering around the €1.1250 mark at the close of play.

Inflation for October came in as expected at 2.2% from 2.1% the previous month, while month over month it hit 0.2% from 0.5% the previous period. The annualised figure was the highest rate since December 2012 which might yet give the European Central Bank something to think about. Wholesale prices in Germany for October crept up to 4% from 3.5%.

We will see the eurozone’s construction output figure for September. The last reading was 2.5% and some analysts are predicting a pretty big increase this time around. The next couple of days are quiet for economic data in the eurozone, but on Thursday we will see the flash consumer confidence reading for November, before Friday’s PMI data.

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