Eurozone Inflation Rises As Estimated In November

Eurozone consumer price inflation rose slightly as estimated in November, final data from Eurostat showed Monday.

Consumer prices advanced 1.5 percent year-on-year in November, following October’s 1.4 percent increase. The rate came in line with the flash estimate published on November 30.

Nonetheless, inflation continues to stay well below the European Central Bank’s target of ‘below, but close to 2 percent’.

The increase in inflation was largely driven by higher energy prices. Energy price inflation climbed to 4.7 percent from 3 percent. Meanwhile, growth in food, alcohol and tobacco eased to 2.2 percent from 2.3 percent.

At the same time, growth in non-energy industrial goods prices remained at 0.4 percent and services cost growth at 1.2 percent.

On a monthly basis, the harmonized index of consumer prices edged up 0.1 percent in November.

Excluding energy, food, alcohol and tobacco, core inflation held steady at 0.9 percent in November.
Source: RTT