BREAKING: Eurozone inflation accelerates to 10%!

Flash data on CPI inflation in the eurozone showed an acceleration from 9.1% from 10.0% YoY. Market expected an acceleration to 9.7% YoY. Guessing the reading based on data from member countries was quite hard given lack of clear direction in those:

• Spain and France saw deceleration in price growth in September

• Germany and Netherlands saw significant acceleration

Scale of acceleration in Germany and Netherlands outweigh deceleration in France and Spain, leading to a significant pick-up in inflation rate for the whole EMU. However, EUR was rather unmoved by the release with lack of any major move on the market. EURUSD continues to trade above 0.9800.

Source: xStation5