2017.11.1620:29:00UTC+00Eurozone’s Inflation Reading Unrevised for October

In October, the euro area's inflation rate weakened, but an indicator of underlying price pressures was revised upward from its prior estimates, according to data released on Thursday.

A final reading from Eurostat reaffirmed that the headline annual inflation rate declined from 1.5 percent to 1.4 percent in the previous month. The figures confirmed the flash projections at the end of October, but was below estimates by economists.

On the other hand, inflation which does not include the volatile prices of food and energy products or core inflation, came in higher than initially estimated. Prices increased 1.1 percent in the year to October, against the flash reading of 0.9 percent.

The European Central bank is getting ready to begin tapering its bond-buying program, even if inflation is projected to keep declining in the next few months. The drop in the headline figures are mostly fueled by energy prices as the effect of surge in oil prices is excluded from year-on-year estimates, and ECB president Mario Draghi has underlined his willingness to see past a transitionary decline and patiently wait for inflation to gather momentum and rise towards the 2 percent target of the central bank.