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inflation accelerates in October and reaches a new record at 10.7%

France retains the lowest inflation in Europe in October, at 7.1%, according to harmonized data from the European statistics office Eurostat.

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Economic growth in the Eurozone slowed sharply in the third quarter, but held up slightly better than expected as recession risks intensified in the face of soaring inflation (+10.2%) , to a new high in October. The GDP of the 19 countries sharing the single currency increased by 0.2% over the period July-September compared to the previous quarter, after having already resisted better than expected in the 2nd quarter (+0.8%), according to the figures published. Monday 31 October by the European statistics office Eurostat.

This could only be a reprieve, however, with soaring prices continuing to accelerate amid war in Ukraine and the energy crisis and other indicators already showing a contraction in economic activity. , observe the experts.

“It is no longer a question of whether we are going to enter a recession, but of knowing how severe this recession will be (…) A recession this winter in the euro zone is imminent”warned analysts at Oxford Economics.

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