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Inflation stays at 3pc

THE annual rate of inflation in the eurozone is expected to remain stable at 3pc in October.

This is the same level as in September, but well above the threshold favoured by the European Central Bank for price stability.

Eurostat, the European Union's statistics agency, said it estimated annual inflation in the eurozone this month at 3pc, above market expectations of a fall to 2.8pc or 2.9pc.

If confirmed it will be the 11th month that inflation has been above the ECB target of below, or close to, 2pc.