17th November 2013

Competitiveness: Inflation in October fell below 1%

EU28 annual inflation was 0.9% in October 2013, down from 1.3% in September. In October 2012 the rate was significantly higher – 2.6%. Euro area annual inflation was 0.7% in October 2013, lower compared to 1.1% in September. In October 2012 the rate was 2.5%. Compared with September 2013, annual inflation fell in twenty-three Member States, remained stable in one and rose in four.

The lowest annual rates were measured in Greece (-1.9%), Bulgaria (-1.1%) and Cyprus(-0.5%), and the highest in Estonia and the United Kingdom (both 2.2%) and Finland (1.7%).

The largest upward impacts to euro area annual inflation came from electricity (+0.11 percentage points), accommodation services (+0.09) and tobacco (+0.08), while fuels for transport (-0.31), telecommunications (-0.16) and heating oil (-0.08) had the biggest downward impacts.

Members of the American Chamber of Commerce in the Czech Republic