Eurozone inflation accelerates to 4% in October, driven by energy costs. - Grande Consumo

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Inflation in the eurozone accelerated again in October, mainly reflecting rising energy prices and a slightly higher evolution of various components of the consumer price index. According to the preliminary estimate released by Eurostat on November 4th, the annual rate reached 4%, 0,2 percentage points higher than in September. The energy sector showed the highest inflation rate, with a year-on-year increase of 20,8%, after 18,9% in the previous month. In the services sector, inflation rose from 3,2% to 3,3%. The food, alcoholic beverages and tobacco component registered an increase of 1,6%, compared to 1,3% in September. Unprocessed food products showed an inflation of 4,6%, after 4% in the previous month.