Euro area annual inflation was 1.4% in October 2017, down from 1.5% in September. In October 2016, the rate was 0.5%. European Union annual inflation was 1.7% in October 2017, down from 1.8% in September. A year earlier the rate was 0.5%. These figures come from Eurostat, the statistical office of the European Union. The lowest annual rates were registered in Cyprus (0.4%), Ireland, Greece and Finland (all 0.5%). The highest annual rates were recorded in Lithuania (4.2%), Estonia (4.0%) and the United Kingdom (3.0%). Compared with September 2017, annual inflation fell in fourteen Member States, remained stable in five and rose in nine.

The largest upward impacts to the euro area annual inflation came from fuels for transport (+0.10 percentage points), accommodation services (+0.08 pp) and milk, cheese & eggs (+0.06 pp), while telecommunication (-0.11 pp), garments (-0.07 pp) and social protection (-0.04 pp) had the biggest downward impacts.