Eurozone's Inflation Rises 2 Pct In Oct. - Data

10/31/2024 9:08:53 AM

(MENAFN- Kuwait News Agency (KUNA)) BRUSSELS, Oct 31 (KUNA) -- Th Eurozone inflation has risen more than expected with rate increasing by 2 percent in October 2024, up from 1.7 pct in September according to preliminary data.
The data published by the European Union's Statistical Office (Eurostat) showed that the highest contribution to the annual inflation rate in the Eurozone comes from the services sector (3.9 pct, stable compared to September), followed by food and tobacco (2.9 pct, compared to 2.4 pct in September), non-energy industrial goods (0.5 pct, compared to 0.4 pct in September), and energy (-4.6 pct, compared to -6.1 pct in September).
On the other hand, Eurostat reported that the seasonally adjusted unemployment rate in the Eurozone in September 2024 stood at 6.3 pct, stable compared to August 2024 and down from 6.6 pct in September 2023.
The unemployment rate in the European Union was 5.9 pct in September 2024, also stable compared to August 2024 and down from 6.1 pct in September 2023.
Eurostat estimates that 13.042 million people in the EU, including 10.884 million in the euro area, were unemployed in September 2024.
The Statistical Office reported also an increase in youth unemployment with the rate for those under 25 reaching 14.8 pct in September 2024, up from 14.5 pct in August 2024, and 14.4 pct in the euro area, up from 14.3 pct the previous month. (end)
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