bank
A bank clerk places a pack of 10 Euro notes valuing 10,000 Euros (14,225 dollars) into a safe in a bank in Vienna July 21, 2009. REUTERS

Annual inflation in the European Union rose during October, for both the euro area and the EU, according to a report by the Eurostat, the statistical office of the European Union.

Euro area annual inflation was 1.9 percent in October, up from 1.8 percent in September. EU annual inflation was 2.3 percent during the month, up from 2.2 percent.

Ireland continued to report the lower annual rate at negative 0.8 percent, which was narrower than the negative 1.0 percent in September.

Latvia and Slovakia also reported lower annual rates.

Romania had the highest rate of inflation at 7.9 percent, followed by Greece at 5.2 percent, the report stated.

The lowest 12-month averages up to October were registered in Ireland, followed by Latvia.

The highest inflation was seen in transport, alcohol and tobacco and housing. The lowest rates were in communication, recreation and culture.

Earlier today, the U.K. reported a rise in consumer price index annual inflation to 3.2 percent in October, up from 3.1 percent in September.

European union Inflation European union