Inflation in the Eurozone Slightly Lower Than Previously Reported

Inflation in the eurozone rose slightly less sharply in October than previously thought, although a new record was reached.

According to a new figure from the European statistics agency Eurostat, inflation climbed to 10.6 percent annually last month from 9.9 percent in September. However, a preliminary estimate still reported inflation of 10.7 percent.

Inflation is mainly driven by higher prices for energy, food, beverages, and tobacco. Across the European Union, consumer prices rose by 11.5 percent, compared to 10.9 percent in September.

The highest inflation within the euro countries was measured in Estonia (22.5 percent) and Lithuania (22.1 percent). On the other hand, French inflation was the lowest within the eurozone at 7.1 percent.