19.12.202310:14:00UTC+00Eurozone Inflation Softens As Estimated In November

Eurozone inflation eased to the lowest in more than two years in November, final data from the statistical office Eurostat showed on Tuesday.

The harmonized index of consumer prices posted an annual growth of 2.4 percent in November after a 2.9 percent gain in October. The rate was the lowest since July 2021 and matched the initial estimate released on November 30.

Excluding energy, food, alcohol and tobacco, core inflation decelerated to 3.6 percent from 4.2 percent. The rate came in line with the preliminary estimate.

Month-on-month, the harmonized index of consumer prices fell 0.6 percent in November, which was revised down from 0.5 percent drop.

Last week, the European Central Bank had left its key interest unchanged for a second straight session and also lowered its inflation projections for this year and next.

The bank now sees headline inflation at 5.4 percent this year, 2.7 percent next year, 2.1 percent in 2025 and 1.9 percent in 2026.

Data today showed that food, alcohol and tobacco logged an annual increase of 6.9 percent, slower than the 7.4 percent rise a month ago.

Non-energy industrial goods prices gained 2.9 percent, following a 3.5 percent increase. Likewise, services inflation eased to 4.0 percent from 4.6 percent in October.

Meanwhile, energy prices declined 11.5 percent after decreasing 11.2 percent.