However, the Harmonised Index of
Consumer Prices (HICP)
inflation in the euro
area has remained below the ECB's 2 - percent
inflation target since 2013, leaving the central bank of the 19 - nation euro
area not much of a choice when it comes to hiking rates.
Consumer price inflation in the euro
area increased to 2.1 per cent over the year to October, primarily due to higher food and energy
prices; the core measure of
inflation is lower at 1.7 per cent (Graph 9).