Eurozone: inflation remained unchanged in October, while unemployment rate unexpectedly increased in September

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Eurozone: inflation remained unchanged in October, while unemployment rate unexpectedly increased in September HICP inflation for October and unemployment rate for September Despite the fact that headline HICP inflation remained stable in October, we continue to see inflation to moderate by end year, due to the weakness of domestic demand, reverting below the ECB target by the beginning of the 2012. More pessimistic news came from the labour market, as unemployment rate increased against expectations, suggesting a faster than anticipated deterioration in activity. Our MICA model updated with the unemployment data continues to estimate flat growth in Q4.

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