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| Version 0 | Version 1 |
|---|---|
| Eurozone inflation edges up to 0.4% | Eurozone inflation edges up to 0.4% |
| (35 minutes later) | |
| Inflation in the eurozone rose slightly in October, giving some hope that the spectre of deflation can be staved off. | Inflation in the eurozone rose slightly in October, giving some hope that the spectre of deflation can be staved off. |
| The flash inflation figure of 0.4% for October was up from 0.3% in September, Eurostat said. | |
| The services sector was the biggest influence on the rise, showing an increase of 1.2% compared with a 1.1% rise in September. | The services sector was the biggest influence on the rise, showing an increase of 1.2% compared with a 1.1% rise in September. |
| Eurostat also said that the eurozone's unemployment rate remained unchanged at 11.5% in September. | |
| 'Crumb of comfort' | |
| The European Central Bank's (ECB) inflation target is close to, but below 2%. However, the decline in the inflation rate, together with sluggish growth, has put the bank under pressure to step up its stimulus measures. | |
| The ECB has already cut its benchmark interest rate to 0.05% and started an asset purchase programme. | |
| Howard Archer, an economist at IHS Global Insight, described the pick-up in inflation as a "small crumb of comfort". | |
| "Nevertheless, October marked the 13th successive month that eurozone consumer price inflation has been less than 1.0% and there is still a significant risk that extended very low inflation could ultimately morph into deflation, especially given weak oil prices and still muted eurozone economic activity." |