Eurostat, the European Union’s statistical office, released figures moments ago showing that annual inflation in the Eurozone rose to 2.1% in October, according to the preliminary reading, compared to 2.2% in September, matching market expectations.

The largest contribution to inflation in September came from the services sector, which rose to 3.4% from 3.2% in September. The food, alcoholic beverages, and tobacco sector also increased, rising to 2.5% from 3% in August. The non-energy industrial goods index rose by 0.6%, while the energy index continued its decline, falling by 1% from 0.4% in September.

The core index, which excludes food and energy prices, rose for the fourth consecutive month, reaching 2.4%, compared to 2.3% in September (revised upwards to 2.4%), exceeding expectations.