🇪🇺ICYMI: Euro Area October Consumer Prices Rise 10.7% Y/y

• The preliminary reading to European consumer prices came in at 10.7% Y/y, this was higher than the prior and the consensus of 10.3%. Inflation increased by 1.5% M/m, marking the second-fastest rise this year after the March print of 2.3%

• Core inflation came in line with estimates at 5.0% Y/y, this was higher than the prior 4.8%

• Food prices accelerated from the prior 11.8% to 13.1% Y/y, energy came in at 41.9%, services prices rose to 4.4% Y/y