Euro area annual inflation is expected to be 1.0%
Euro area annual inflation is expected to be 1.0% in November 2019, up from 0.7% in October according to a flash estimate from Eurostat, the statistical office of the European Union.
Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in November (2.0%, compared with 1.5% in October), followed by services (1.9%, compared with 1.5% in October), non-energy industrial goods (0.4%, compared with 0.3% in October) and energy (-3.2%, compared with -3.1% in October).
Euro area unemployment at 7.5%
The euro area (EA19) seasonally-adjusted unemployment rate was 7.5% in October 2019, down from 7.6% in September 2019 and from 8.0% in October 2018. This is the lowest rate recorded in the euro area since July 2008. The EU28 unemployment rate was 6.3% in October 2019, stable compared with September 2019 and down from 6.7% in October 2018. This remains the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000. These figures are published by Eurostat, the statistical office of the European Union.
Eurostat estimates that 15.583 million men and women in the EU28, of whom 12.334 million in the euro area, were unemployed in October 2019. Compared with September 2019, the number of persons unemployed decreased by 29 000 in the EU28 and by 31 000 in the euro area. Compared with October 2018, unemployment fell by 939 000 in the EU28 and by 761 000 in the euro area.
Among the Member States, the lowest unemployment rates in October 2019 were recorded in Czechia (2.2%), Germany (3.1%) and Poland (3.2%). The highest unemployment rates were observed in Greece (16.7% in August 2019) and Spain (14.2%). Compared with a year ago, the unemployment rate fell in 24 Member States, while it increased in Czechia (from 2.1% to 2.2%), Lithuania (from 6.1% to 6.4%), Denmark (from 4.9% to 5.3%) and Sweden (from 6.4% to 6.8%). The largest decreases were registered in Greece (from 18.9% to 16.7% between August 2018 and August 2019)
and Estonia (from 5.7% to 4.3% between September 2018 and September 2019). In October 2019, the unemployment rate in the United States was 3.6%, up from 3.5% in September 2019 and down from 3.8% in October 2018.