31/10/2011
By Adam Cadle
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%.
Other stories you may find of interest:
Models indicate Euro breakup would bring 40% drop in equities
If the eurozone were to break up, the most favourable option would be for Greece to leave, while a complete breakup would have the most severe consequences, according to SunGard
Inflation worrying European pension funds
European pension funds are more concerned about inflation than they were last year, and many are taking steps to protect their assets, according to a survey by consultancy firm Mercer
European investors expect EU inflation to remain
Inflation in the Eurozone will be well above 2% in five years’ time, according to 36% of 52 large European institutional investors surveyed by ING Investment Management
