Eurozone inflation falls to 2% target

EUROZONE inflation moved back to the ECB’s target of 2% in October with a decrease in the fall of energy, transport and entertainment costs.

According to the EU's statistical arm, Eurostat, inflation in the eurozone is now back on target following several seven months of swaying above and below the limit.

The agency said core inflation which factors out the cost of energy and food fell to 1.7% from 1.8%. Energy prices fell 0.4% in the month and were 0.7% higher than a year earlier.