EU Inflation to hit 2.1%
Euro area annual inflation is expected to be 2.1% in November 2008 according to a flash estimate issued by Eurostat. It was 3.2% in October. Euro area inflation is measured by the Monetary Union Index of Consumer Prices (MUICP). To compute the MUICP flash estimates, Eurostat uses early price information relating to the reference month from Member States for which data are available4 as well as early information about energy prices. The flash estimation procedure for the MUICP combines historical information with partial information on price developments in the most recent months to give a total index for the euro area. No detailed breakdown is available. Experience has shown the procedure to be reliable (15 times exactly anticipating the inflation rate and 9 times differing by 0.1 over the last two years). Further information can be found in Eurostat News Release 113/2001 of 5 November 2001.
EU Unemployment to hit 7.7%
The euro area (EA15) seasonally-adjusted unemployment rate stood at 7.7% in October 2008, compared with 7.6% in September. It was 7.3% in October 2007. The EU27 unemployment rate was 7.1% in October 2008, compared with 7.0% in September. It was 6.9% in October 2007. Eurostat estimates that 17.183 million men and women in the EU27, of which 12.003 million were in the euro area, were unemployed in October 2008. Compared with September 2008, the number of persons unemployed increased by 290 000 in the EU27 and by 225 000 in the euro area. Compared with October 2007, unemployment went up by 709 000 in the EU27 and by 810 000 in the euro area. These figures are published by Eurostat.
Fighting Cyber Crime
The Council of ministers of the European Union adopted today the European Commission's strategy to reinforce the fight against cyber crime. The strategy proposes a series of operational measures, such as cyber patrols, joint investigation teams and remote searches to become part of the fight against cybercrime in the next five years. The strategy also introduces concrete steps for closer cooperation and information exchange between law enforcement authorities and the private sector.
