Eurozone inflation stable at 3.0% in October

Annual inflation in the eurozone remained stable at 3.0 percent in October, the European Union's (EU) statistical office Eurostat said on Wednesday. This is the 12th consecutive month for the inflation rate to stay over the European Central Bank's target of below or close to 2 percent. On a monthly basis, inflation in the 17-member single currency area stood at 0.3 percent in October. As for wider 27-nation EU, annual inflation rate was 3.4 percent in October 2011, up from 3.3 percent in September, while monthly inflation rate also stood at 0.3 percent. Sweden registered the lowest annual inflation in October with a rate of just 1.1 percent, followed by Ireland's 1.5 percent, Malta's 2.4 percent, whereas Britain witness the highest annual inflation of 5.0 percent, followed by 4.7 percent in Estonia and 4.6 percent in Slovakia.