Inflation in the euro zone slowed to 1.4% in October, the EU's official statistics agency has said, well off the European Central Bank's 2% target.

The figure is also down on the forecast of analysts at data company Factset, who predicted it would stay stable at September's rate of 1.5%.

Eurostat figures also show unemployment for the euro zone in September fell to 8.9%, the lowest jobless rate in the single currency area since January 2009.

However, growth for Euro Area countries came in slightly ahead of expectation, at 0.6%