Annual inflation for the Euro area has been estimated to remain at 3% for the month of October, further complicating the European Central Bank’s (ECB) efforts in restoring a faltering and unstable economy according to current predictions from Eurostat, the statistical office of the European Union.

The inflation level for the 17 nation Euro area is predicted to remain at the same level as it was in September, and up from the 2.5% level recorded in August of this year.

In addition, figures have also revealed that the Euro area unemployment rate for September increased by 0.1% from 10.1% in August to 10.2% in September and for the EU27, rates increased from 9.6% to 9.7% for the same respective period.

The highest unemployment rates were recorded in Spain at 22.6% and Greece (17.6% in July). In comparison the lowest unemployment rates were recorded in Austria at 3.9%, the Netherlands at 4.5% and Luxembourg at 4.8%.

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