Eurostat, the European Union's (EU) statistical agency, said today that the annual inflation rate in the single currency bloc's 19 member nations rose 4.1 percent in October of this year.

Lithuania has the highest incidence (8.2 percent), while Malta has the lowest percentage (1.4 percent).

Energy, services, non-energy industrial items, as well as food, alcohol, and tobacco, contributed the most to this yearly trend.

Eurostat concurred with the DailyFx portal's polled analysts' estimate.

The last time eurozone countries had such a consumer price rise was in 2008. Eurozone nations experienced 0.3 percent deflation in October 2020.

Deflation, also known as negative inflation, is a broad and continuous drop in the prices of goods and services induced by poor demand and surplus production capacity that lasts at least two semesters.