MNI BRIEF: Eurozone Inflation at Multi-Decade High In October​

Eurozone headline inflation surged to 4.1% in October, hitting the highest level seen this century, equalled only in July 2008. Core inflation was also higher, rising to 2.1% from 1.9% in September. The reading was above market expectations, but probably not a great surprise after a host of national data had beaten to the upside.

Headline prices rose 0.8% on the month, while core prices rose 0.3%. Earlier Friday, the European Central Bank's survey of Professional Forecasters saw inflation higher than previously expected in 2021, 2022 and 2023 -- although still below the ECB's target in the last year of the horizon period.