Consumer prices in 19 eurozone countries rose 10.7% in October and grew 0.2% in the third quarter, strengthening expectations for a 0.75% rate hike. Consumer price inflation was 9.9% in September and grew by 4.1% in October of the previous year.
Inflation rose in October in Germany (11.6%), the Netherlands (16.8%), Italy (12.8%) and France (7.1%). grew 0.7%.
A report by the European Commission for Statistics (Eurostat) on Friday showed that overall production in the eurozone slowed from 0.8% recorded in the previous three months, but production in France and Spain rose 0.2% each, while Austria and Belgium fell 0.1%.
"European policymakers face serious trade-offs and difficult policy choices while dealing with a harsh mix of weak growth and high inflation that could be exacerbated," the IMF said in a statement.
"The combination of higher-than-expected inflation and production suggests that supply shortages are not the only problem," said Lucregia Lahinlin, an economics professor at the London Business School. contributing,” he told The New York Times.
"The European Commission reported a higher-than-expected 0.2% increase in production in the third quarter, but many economists agreed that a recession in Europe was almost inevitable," the New York Times said. I expected it,” he reported on the 31st.
In September, consumer prices rose 8.2% in the US and 8.8% in the UK.
Regarding Korea's October trade deficit announcement, Bloomberg said, "Korea's first decline in exports in two years is one of the clearest signs that the world economy is cooling down due to pressure to raise interest rates." It decreased by 7.9% and exports fell by 5.7%, worse than the 2.1% decline we had estimated.”
The Ministry of Trade, Industry and Energy of Korea announced on the 1st that the export value of $52.48 billion in October decreased by 5.7% compared to the previous year, and the 23 consecutive months of increase since November 2020 turned into 'reverse growth'.
Imports increased by 9.9% to $59.18 billion, resulting in a trade deficit of $6.7 billion.
In Europe, energy prices have risen 41.9 per cent over the past 12 months, food prices have risen 13.1 per cent, and Russia's recent withdrawal from Ukraine's grain export agreements suggests the possibility of further rises in grain prices in the future.
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