Consumer price growth in the euro area ticked lower to move closer to the target of the European Central Bank, giving monetary policymakers there another reason to hold rates at their next decision-making meeting in December.
In a preliminary report, the EU statistics office Eurostat said annual Eurozone inflation in October slipped to 2.1% – the market estimate – from last month’s of 2.2%. Both were slightly above the ECB’s medium-term target of 2.0%.
The less-volatile euro area core rate held at 2.4% y/y, with the market expecting a decline to 2.3%.
Measured at a monthly rate, consumer prices in October rose 0.2%, the same pace as last month, a reading in-line with expectations.
The EUR/USD was little changed on the news.
The report offered mixed results for European consumers. The rate of price growth for fresh food dropped to 3.2% y/y from September’s mark of 4.7%. Service inflation grew two-tenths to 3.4%. Falling energy prices – off 1.0% y/y after a 0.4% decline in last month – helped counter increases.
On the month, prices for energy eased 0.2%, with fresh food costs up 0.7%.
The latest numbers are likely to harden the hold-the-line rate policy of the ECB, which on Thursday left rates unchanged and repeated that it is “in a good place.”
The latest comments from ECB watchers largely agree that the bank has ended its cutting cycle, which began in June of last year, with rate-setters further emboldened by better-than-expected euro area GDP growth last quarter.
“We expect moves in inflation to continue to be rather modest in the coming quarters, which allows the ECB to keep rates constant until the second half of 2027,” Nordea said in a note. “Although headline inflation may decrease below the targeted levels in the first half of 2026, the upside pressures on services prices are more robust and we forecast core inflation to slow down to the ECB’s target during the first months of next year and stay at around those levels for the rest of 2026.”
Consumer price growth mostly lower in Eurozone Big Four
Inflation eased in most of the major economies in the currency area, according to preliminary data. Germany, Europe’s biggest economy, said Thursday that its EU annual harmonised inflation slipped to an in-line 2.3% from 2.4% in September.
Friday morning, France, the second-largest economy, reported a slowdown to 0.9% compared to 1.1% last month and the 1.0% forecast.
Also on Friday, Italy, the third-largest economy, announced an unexpectedly large drop in inflation to 1.3% from 1.8%, with the market expecting a result of 1.7%.
Spain, the euro area’s fourth-largest country, said Thursday that its EU annual harmonised rate rose to 3.2% from September’s 3.0%, which was also the forecast.
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/*jshint esversion: 6 */
var socket;
var assigned_server = 3001;
var distributor_server = 3010;
var publisher_channel = '';
var broadcaster_channel = '';
var remote_ip = '';
var session_info = {};
var logging_interval;
var logging_interval_time = 120000;
var socket_emits = 0;
var session_start_time;
var reconnectionDelayGrowFactor = 1.2;
var reconnection_delay = 1000;
var playing = false;
var connected_to_assigned = false;
var socket_close_timeout;
var player_disconnected_annoucement_play_delay = 1500;
var player_disconnected_annoucement_play_timeout = null;
self.onmessage = function (msg) {
switch(msg.data.action) {
case 'Reactivate': reactivate(); break;
case 'ConnectDistributor': connect_to_distributor(msg); break;
case 'SessionStaticInfo': session_static_info(msg); break;
case 'SessionInfo': update_session_info(msg.data); break;
case 'PauseLogging': clearTimeout(logging_interval); break;
case 'RestartLogging': postMessage({action: 'RequestSessionStaticInfo' }); break;
case 'JoinPublisherChannel': join_publisher_channel(msg.data); break;
case 'JoinPlayerChannel': join_player_channel(msg.data); break;
case 'CheckChannelStatus': check_channel_status(msg.data); break;
case 'PlayerLogResponse': player_log_response(msg.data); break;
case 'CloseSocket': close_socket(); break;
case 'RequestMessageSearch': request_message_search(msg.data); break;
case 'RequestMoreMessages': request_more_messages(msg.data); break;
case 'PlayerDisconnectedAnnoucementTimeoutStart': player_disconnected_annoucement_timeout_start(); break;
case 'PlayerDisconnectedAnnoucementTimeoutClear': player_disconnected_annoucement_timeout_clear(); break;
}
};
function player_disconnected_annoucement_timeout_clear() {
clearTimeout(player_disconnected_annoucement_play_timeout);
player_disconnected_annoucement_play_timeout = null;
}
function player_disconnected_annoucement_timeout_start() {
player_disconnected_annoucement_play_timeout = setTimeout(function() { send_play_disconnect_annoucement(); }, player_disconnected_annoucement_play_delay );
}
function send_play_disconnect_annoucement() {
postMessage({action: "PlayDisconnectAnnoucement"});
}
function reactivate() {
playing = false;
connect_to_assigned_server();
}
function player_log_response(data) {
var data_array = {};
data_array.type = 'PlayerLogResponse';
data_array.respond_to_socket_final = data.respond_to_socket_final;
data_array.respond_to_socket = data.respond_to_socket;
data_array.player_socket_id = data.player_socket_id;
data_array.logs = data.logs;
var msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
function request_message_search(data) {
var data_array = {};
data_array.type = 'request_message_search';
data_array.publisher_channel = data.publisher_channel;
data_array.search_term = data.search_term;
var msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
function request_more_messages(data) {
var data_array = {};
data_array.type = 'request_more_messages';
data_array.publisher_channel = data.publisher_channel;
data_array.last_record_id = data.last_record_id;
var msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
function check_channel_status(data) {
var data_array = {};
data_array.type = 'check_channel_status';
data_array.app_name = data.app_name;
var msg_string = JSON.stringify(data_array);
if (socket.readyState == 1 && connected_to_assigned) { socket.send(msg_string); }
else { setTimeout(function() { check_channel_status(data); },500); }
}
function check_channel_status_response(data) {
postMessage({ action: 'CheckChannelStatusReponse', stream_status: data.stream_status.status, onair: data.stream_status.onair, connected: data.stream_status.connected });
}
function join_publisher_channel(data) {
var data_array = {};
data_array.type = 'join_publisher_channel';
if (typeof data.api_key !== 'undefined') { data_array.api_key = data.api_key; }
else {
data_array.publisher_channel = data.publisher_channel;
data_array.username = data.username;
data_array.subscriber_group = data.subscriber_group;
data_array.display_name = data.display_name;
data_array.single_sign_on = data.single_sign_on;
data_array.remote_ip = data.remote_ip;
data_array.http_referrer = data.http_referrer;
data_array.current_page = data.current_page;
data_array.php_session_id = data.php_session_id;
data_array.from_react = data.from_react;
}
var msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) {
socket.send(msg_string); }
postMessage({action: 'PublisherChannelJoined' });
}
function session_static_info(msg) {
set_static_session_info(msg.data);
start_log();
}
function connect_to_distributor(msg) {
publisher_channel = msg.data.publisher_channel;
remote_ip = msg.data.remote_ip;
socket = new WebSocket("wss://ws.livesquawk.com/ws"+distributor_server);
socket.onopen = function(event) { request_server_assignment(); };
socket.onmessage = function(event) {
var msg_string = event.data.toString();
var data = JSON.parse(msg_string);
switch(data.type) {
case 'server_assignment_response': server_assignment_response(data); break;
}
};
}
function session_info_interval() {
postMessage({action: 'RequestSessionInfo' });
logging_interval = setTimeout(session_info_interval,logging_interval_time);
}
function server_assignment_response(data) {
assigned_server = data.selected_server;
socket.close();
connect_to_assigned_server();
}
function request_server_assignment() {
var data_array = {};
data_array.type = 'request_server_assignment';
var msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
function connect_to_assigned_server() {
socket = new WebSocket("wss://ws.livesquawk.com/ws"+assigned_server);
socket.onopen = function(event) {
postMessage({ action: 'VisibleConsole',console_string: "Connected to server "+assigned_server });
console.log("Connected to server "+assigned_server);
postMessage({ action: 'ConnectedToAssigned' });
connected_to_assigned = true;
if (playing) {
postMessage({ action: 'RejoinPlayerChannel' });
}
};
socket.onmessage = function(event) {
var msg_string = event.data.toString();
var data = JSON.parse(msg_string);
if (data.type != 'server_ping') { /* console.log(data.type); */ }
switch(data.type) {
case 'reconnect': postMessage({ action: 'VisibleConsole',console_string: "Reconnected" }); break;
case 'reload': postMessage({ action: 'Reload' }); break;
case 'start_log_response': start_log_response(data); break;
case 'application_refresh_start': application_refresh_start(data); break;
case 'application_refresh_stop': application_refresh_stop(data); break;
case 'player_log_request':
case 'check_channel_status_response': check_channel_status_response(data); break;
case 'PlayerLogRequest':
case 'new_tweet':
case 'new_latest_news':
case 'delete_report':
case 'add_report':
case 'add_ref_doc':
case 'calendar_change':
case 'calendar_insert':
case 'calendar_delete':
case 'new_note':
case 'AppStart':
case 'AppStop':
case 'BroadcasterStarted':
case 'BroadcasterStopped':
case 'added_cme_report':
case 'updated_cme_report':
case 'added_cme_commentary':
case 'updated_cme_commentary':
case 'server_assignment_response':
case 'initial_messages':
case 'message_categories':
case 'more_messages':
case 'matched_messages':
pass_straight_to_post_message(data);
break;
case 'output':
case 'server_ping':
case 'reconnect':
case 'disconnect':
break;
}
};
socket.onerror = function(event) {
postMessage({ action: 'VisibleConsole',console_string: "LS Socket Error" + event.type });
console.log(event);
postMessage({ action: 'LSSocketConnectionError' });
};
socket.onclose = function(event) {
console.log('Socket is closed. Reconnect will be attempted in 1 second.', event.reason);
socket_close_timeout = setTimeout(connect_to_assigned_server, reconnection_delay);
reconnection_delay = reconnection_delay*reconnectionDelayGrowFactor;
connected_to_assigned = false;
};
}
function close_socket() {
clearTimeout(socket_close_timeout);
socket_close_timeout = null;
socket.onclose = function(event) {};
socket.onmessage = function(event) {};
socket.onerror = function(event) {};
socket.close(1000);
console.log('Socket Closed');
}
function pass_straight_to_post_message(data) {
data.action = data.type;
postMessage(data);
}
function join_player_channel(data) {
var data_array = {};
data_array.type = 'join_player_channel';
data_array.player_channel = data.player_channel;
data_array.remote_ip = data.remote_ip;
data_array.username = data.username;
data_array.app_name = data.app_name;
data_array.onair_status = data.onair_status;
data_array.http_referrer = data.http_referrer;
data_array.current_page = data.current_page;
data_array.php_session_id = data.php_session_id;
var msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
postMessage({action: 'PlayerChannelJoined' });
playing = true;
}
function start_log_response(data) {
session_info.session_id = data.log_record_id;
session_info_interval();
}
function application_refresh_start(data) {
if (data.app_name == session_info.application_name) { postMessage({action: 'ApplicationRefreshStart' }); }
}
function application_refresh_stop(data) {
if (data.app_name == session_info.application_name) { postMessage({action: 'ApplicationRefreshStop' }); }
}
function set_static_session_info(data) {
session_info.browser_codename = data.browser_codename;
session_info.browser_name = data.browser_name;
session_info.user_agent = data.user_agent;
session_info.browser_version = data.browser_version;
session_info.cookies_enabled = data.cookies_enabled;
session_info.platform = data.platform;
session_info.player_version = data.player_version;
session_info.stream = data.stream;
session_info.connection_protocol = data.protocol;
session_info.delay_target = data.delay_target;
session_info.session_email = data.session_email;
session_info.remote_ip = data.remote_ip;
session_info.php_session_id = data.php_session_id;
session_info.application_name = data.application_name;
session_info.http_referrer = data.http_referrer;
}
function start_log() {
var session_start_date = new Date();
session_start_time = session_start_date.getTime();
var months = ['Jan','Feb','Mar','Apr','May','Jun','Jul','Aug','Sep','Oct','Nov','Dec'];
var session_start_date_string = session_start_date.getDate() + " " + months[session_start_date.getMonth()] + " " + session_start_date.getFullYear();
var data_array = {};
data_array.type = 'webrtc_start_log';
data_array.remote_ip = session_info.remote_ip;
data_array.username = session_info.session_email;
data_array.php_session_id = session_info.php_session_id;
data_array.webrtc_protocol = '';
data_array.session_start_time = (session_start_time/1000).toFixed(0);
data_array.stream_name = session_info.stream;
data_array.session_start_date = session_start_date_string;
var msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
function update_session_info(data) {
var data_array = {};
var msg_string = '';
var current_date = new Date();
var current_time = current_date.getTime();
session_info.protocol = data.protocol;
session_info.curr_delay = (data.effective_latency / 1000).toFixed(2);
session_info.session_length = current_time - session_start_time;
session_info.ping_time = data.ping_time;
session_info.jitter = data.jitter;
session_info.packet_loss = data.packet_loss;
session_info.effective_latency = data.effective_latency;
session_info.mean_opinion_score = data.mean_opinion_score;
session_info.restarts = data.restarts;
if (socket_emits == 0) {
data_array = {};
data_array.type = 'webrtc_log_data_full';
data_array.connection_protocol = session_info.protocol;
data_array.threshold = 0;
data_array.curr_delay = session_info.curr_delay;
data_array.session_length = session_info.session_length;
data_array.date = current_time;
data_array.browser_codename = session_info.browser_codename;
data_array.browser_name = session_info.browser_name;
data_array.user_agent = session_info.user_agent;
data_array.browser_version = session_info.browser_version;
data_array.cookies_enabled = session_info.cookies_enabled;
data_array.platform = session_info.platform;
data_array.player_version = session_info.player_version;
data_array.stream = session_info.stream;
data_array.restarts = session_info.restarts;
data_array.delay_target = 0;
data_array.op_sys = '';
data_array.flash_version = '';
data_array.remote_ip = session_info.remote_ip;
data_array.http_referrer = session_info.http_referrer;
data_array.php_session_id = session_info.php_session_id;
data_array.user_email = session_info.session_email;
data_array.webrtc_protocol = session_info.protocol;
data_array.ping_time = session_info.ping_time;
data_array.jitter = session_info.jitter;
data_array.packet_loss = session_info.packet_loss;
data_array.effective_latency = session_info.effective_latency;
data_array.mean_opinion_score = session_info.mean_opinion_score;
data_array.session_id = session_info.session_id;
msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
else {
data_array = {};
data_array.type = 'webrtc_log_data';
data_array.session_id = session_info.session_id;
data_array.php_session_id = session_info.php_session_id;
data_array.connection_protocol = session_info.protocol;
data_array.restarts = session_info.restarts;
data_array.threshold = 0;
data_array.curr_delay = session_info.curr_delay;
data_array.session_length = session_info.session_length;
data_array.date = current_time;
data_array.webrtc_protocol = session_info.protocol;
data_array.ping_time = session_info.ping_time;
data_array.jitter = session_info.jitter;
data_array.packet_loss = session_info.packet_loss;
data_array.effective_latency = session_info.effective_latency;
data_array.mean_opinion_score = session_info.mean_opinion_score;
data_array.stream = session_info.stream;
msg_string = JSON.stringify(data_array);
if (socket.readyState == 1) { socket.send(msg_string); }
}
socket_emits++;
if (socket_emits == 100) { socket_emits = 0; }
}
- Headline rate matches estimate
- Core rate unchanged from September
- Italian consumer prices down sharply
By Eric Culp, European Editor
LiveSquawk News
@eculp.bsky.social
@EricCulpLS
31 October 2025 | 10:50 GMT
Consumer price growth in the euro area ticked lower to move closer to the target of the European Central Bank, giving monetary policymakers there another reason to hold rates at their next decision-making meeting in December.
In a preliminary report, the EU statistics office Eurostat said annual Eurozone inflation in October slipped to 2.1% – the market estimate – from last month’s of 2.2%. Both were slightly above the ECB’s medium-term target of 2.0%.
The less-volatile euro area core rate held at 2.4% y/y, with the market expecting a decline to 2.3%.
Measured at a monthly rate, consumer prices in October rose 0.2%, the same pace as last month, a reading in-line with expectations.
The EUR/USD was little changed on the news.
The report offered mixed results for European consumers. The rate of price growth for fresh food dropped to 3.2% y/y from September’s mark of 4.7%. Service inflation grew two-tenths to 3.4%. Falling energy prices – off 1.0% y/y after a 0.4% decline in last month – helped counter increases.
On the month, prices for energy eased 0.2%, with fresh food costs up 0.7%.
The latest numbers are likely to harden the hold-the-line rate policy of the ECB, which on Thursday left rates unchanged and repeated that it is “in a good place.”
The latest comments from ECB watchers largely agree that the bank has ended its cutting cycle, which began in June of last year, with rate-setters further emboldened by better-than-expected euro area GDP growth last quarter.
“We expect moves in inflation to continue to be rather modest in the coming quarters, which allows the ECB to keep rates constant until the second half of 2027,” Nordea said in a note. “Although headline inflation may decrease below the targeted levels in the first half of 2026, the upside pressures on services prices are more robust and we forecast core inflation to slow down to the ECB’s target during the first months of next year and stay at around those levels for the rest of 2026.”
Consumer price growth mostly lower in Eurozone Big Four
Inflation eased in most of the major economies in the currency area, according to preliminary data. Germany, Europe’s biggest economy, said Thursday that its EU annual harmonised inflation slipped to an in-line 2.3% from 2.4% in September.
Friday morning, France, the second-largest economy, reported a slowdown to 0.9% compared to 1.1% last month and the 1.0% forecast.
Also on Friday, Italy, the third-largest economy, announced an unexpectedly large drop in inflation to 1.3% from 1.8%, with the market expecting a result of 1.7%.
Spain, the euro area’s fourth-largest country, said Thursday that its EU annual harmonised rate rose to 3.2% from September’s 3.0%, which was also the forecast.
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