Currency
by ForexNewsNow Team on October 29, 2010

Indicator analysis: Euro zone CPI rises unexpectedly

Indicator analysis - the EU flagNEW YORK (Forex News Now) – Consumer price inflation in the euro zone rose more than forecast in October, official data showed on Friday in one of the day’s major realtime forex news events.

In a report likely to impact currency market trading, the EU statistics agency said its Consumer Price Index for the euro zone rose 1.9 percent year-on-year in October, up from 1.8 percent in September.

Analysts had expected consumer price inflation to actually slow to 1.7 percent in October, two major online FX trading news outlets reported.

Eurostat, the agency, also revised down the euro zone’s unemployment rate for August, from 10.1 percent to 10 percent. However, it reported that the rate came in at 10.1 percent in September, as expected.

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