Eurozone inflation hits 10.7% in October

Inflation across the eurozone hit 10.7% in October. What does it mean for your money?

Euro sculpture at the European Central Bank
The European Central Bank is wary of raising interest rate too far too fast
(Image credit: © Getty Images)

Eurozone inflation jumped to a record high of 10.7% in October, outpacing analysts’ projections for an increase of 10.2% for the month. We explain what this means for your finances.

Like the UK, the EU is suffering from high energy and food prices following Russia’s invasion of Ukraine earlier in the year, which are pushing up prices of goods and services across the board.

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Rupert Hargreaves
Contributor and former deputy digital editor of MoneyWeek

Rupert is the former deputy digital editor of MoneyWeek. He's an active investor and has always been fascinated by the world of business and investing. His style has been heavily influenced by US investors Warren Buffett and Philip Carret. He is always looking for high-quality growth opportunities trading at a reasonable price, preferring cash generative businesses with strong balance sheets over blue-sky growth stocks.

Rupert has written for many UK and international publications including the Motley Fool, Gurufocus and ValueWalk, aimed at a range of readers; from the first timers to experienced high-net-worth individuals. Rupert has also founded and managed several businesses, including the New York-based hedge fund newsletter, Hidden Value Stocks. He has written over 20 ebooks and appeared as an expert commentator on the BBC World Service.