Eurozone Inflation Drops Sharply Amid Energy Deflation, Economic Contraction

Consumer prices are slowing more than expected in the eurozone, driven in part by falling energy prices but also by lower food and services inflation.

The consumer price index, which measures how fast prices are rising in the 20-member euro area, stood at 2.9% in October, dropping sharply from 4.3% the month before and below economists’ expectations for a reading of 3.3%, according to a poll compiled by The Wall Street Journal.