By Daniel Hunter

The rate of inflation in the eurozone crept up slightly to 0.4% in October, according to its official statistics agency.

Eurostat said inflation rose by 0.1%, from September's figure of 0.3%.

Last month's inflation figure sparked speculation and concern that prices could slip into deflation and the eurozone could fall into recession.

But today's inflation figure has gone some way to depressing those fears, at least slightly.

The services sector saw the biggest rise in inflation with a 1.2% increase.

The unemployment rate in the eurozone remained unchanged at 11.5%.

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