Euro area annual inflation down to 0.7%

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Euro area annual inflation is expected to be 0.7% in October 2013, down from 1.1% in September, according to a flash estimate from Eurostat.

It said that by looking at the main components of euro area inflation, food, alcohol and tobacco is expected to have the highest annual rate in October, followed by services, 1.2% and non-energy industrial goods.

Energy prices showed a decline of 1.7%.

The next release with full data for October 2013 is scheduled for 15 November.

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