Euro area inflation falls to lowest level in two years as GDP shrinks

A flash estimate from Eurostat, the statistical office of the European Union, put annualised euro area inflation at 2.9% in October, down from 4.3% in September. Lower energy prices helped drag down the reading, falling at an annualised rate of 11.1% in October, compared with a fall of 4.6% in September. Food, alcohol and tobacco were expected to have contributed most to the inflation in October, at 7.5%, compared with 8.8% the previous month. ECB meets expectations as rates held at 4% This was followed by services, which saw annualised prices rise by 4.6%, compared with 4.7% in...