• Annual HICP in the Euro area climbed to 10.6% in October.
• EURUSD continues to trade in negative territory below 1.0400.

Annual inflation in the Euro area, as measured by the Harmonised Index of Consumer Prices (HICP), rose to 10.6% (final) in October from 9.9% in September. This reading came in slightly below the flash estimate and the market expectation of 10.7%.

The Core HICP, which excludes volatile food, energy, alcohol and tobacco prices, stood at 5% on a yearly basis in October, matching the initial estimate.

Market reaction

These figures don't seem to be having a noticeable impact on the Euro's (EUR) performance against its major rivals. As of writing, EURUSD was down 0.27% on the day at 1.0365.