# Euro Holds Gains After Eurozone Inflation Comes In Below 3.0% But Core Remains 'Sticky'

> Eurozone CPI fell to 2.9% year-on-year in October from 4.3% in September, below the 3.1% forecast. Core inflation eased to 4.2% but remained elevated, and the euro gained on the data.

- Date: 2023-10-31 · published 2023-10-31T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/33841-euro-holds-gains-after-eurozone-inflation-comes-in-below-3-0-but-core-remains
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Falling inflation raises the chance of ECB rate cuts in 2024, which supports the euro against the dollar. A stronger euro lowers the dollar cost of European feed and ingredient purchases.

## Read by commodity

- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2021-09-01 | [Euro holds near one-month high after inflation jolt \| Reuters](https://feedsoft.ai/events/45265-euro-holds-near-one-month-high-after-inflation-jolt-reuters.md) | +0.2% | -1.6% |
| EURUSD | 2023-03-31 | [Dollar up vs. euro but remains on track for weekly loss after inflation data](https://feedsoft.ai/events/37072-dollar-up-vs-euro-but-remains-on-track-for-weekly-loss-after-inflation-data.md) | +0.3% | +1.1% |
| EURUSD | 2026-09-01 | [Euro zone inflation rises above 3%, cementing ECB rate hike bets \| Reuters](https://feedsoft.ai/events/17697-euro-zone-inflation-rises-above-3-cementing-ecb-rate-hike-bets-reuters.md) | +0.1% | -2.4% |
| EURUSD | 2022-05-24 | [Euro extends gains after Lagarde's bullish remarks](https://feedsoft.ai/events/12689-euro-extends-gains-after-lagarde-s-bullish-remarks.md) | +0.6% | -0.8% |
| EURUSD | 2021-08-31 | [What Does the Higher Eurozone Inflation Have in Store for the EUR/USD?](https://feedsoft.ai/events/45766-what-does-the-higher-eurozone-inflation-have-in-store-for-the-eur-usd.md) | +0.5% | -1.0% |

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/eur/19438-euro-to-pound-and-dollar-inflation-october

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.