P.M. BRIEFING : EC October Price Index Up 0.5%
The average consumer price index for October was up 0.5% in the 12-nation European Community, compared with 0.6% in September, the bureau of statistics Eurostat reported today.
The small change in the October rate compared with the September rate did not affect the 12-month inflation average for the community, which remained at 5.3%.
Seven members of the communities had individual annual inflation rates below 5.3%: the Netherlands, at 1.3%; West Germany, 3.1%; France, 3.5%; Belgium, 3.6%; Luxembourg, 3.9%; Ireland, 4.5%, and Denmark, 5.1%.
The five countries that contributed to driving the rate up were Italy with 6.5%, Spain with 7.1%, Britain, 7.3%, Portugal, 12.3%, and Greece with 13.8%.
Eurostat said the inflation rate in the United States for the same 12-month period was 4.5% and in Japan, 3.1%.
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