The euro zone is made up of 16 member states that share the euro as currency. In the euro area, the annual rate of inflation dropped farthest in Ireland, down 2.8 percent, while rising highest in Greece, where prices rose 1.2 percent. Overall, prices dropped 0.1 percent on an annual basis.
Tossing in the 11 other countries that make up the 27-member European Union, Ireland remains the state with the highest deflation rate, while Romania, Hungary, Poland and Sweden, in descending order, had higher rates of inflation than Greece. In Romania, prices rose 4.3 percent; in Hungary they rose 4.2 percent, Eurostat said.
In Sweden, prices rose 1.8 percent. Overall, EU prices rose 0.5 percent.
From the point of view of commerce, alcohol and tobacco products led price gains in October with prices up 4.4 percent. Prices for miscellaneous goods and services rose 2.2 percent, while education costs rose 1.5 percent.
Prices for motor vehicle grade gasoline dropped 0.42 percent, while natural gas fell 0.27 percent and heating oil fell 0.24 percent in the month, leading declines.
Copyright 2009 by United Press International.
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