Eurozone annual inflation remains stable in November—Eurostat

(MENAFN) Consumer price growth across the euro area remained unchanged in November, with annual inflation holding at 2.1%, according to finalized figures released this week. The outcome was slightly lower than earlier projections but still marginally above the European Central Bank’s medium-term inflation goal.

Revised data showed inflation coming in below initial estimates of 2.2%, signaling modest easing pressures without a significant shift from October’s level. Despite this, price growth continues to sit just above the ECB’s preferred threshold of 2%.

Service-related costs were the main contributor to overall inflation, recording a year-on-year increase of 3.5%. This was followed by price rises in food, alcohol, and tobacco at 2.4%, while non-energy industrial goods saw a more modest increase of 0.5%.

Energy prices provided the strongest downward pull on inflation, declining 0.5% compared with the same period last year. This marked a slower rate of decline than in October, when energy prices fell by 0.9%.

Underlying inflation, which strips out volatile food and energy components, stood at 2.4% annually. This measure was unchanged from the previous month and aligned with earlier estimates.

Among individual member states, Romania recorded the highest annual inflation rate at 8.6%, followed by Estonia at 4.7% and Croatia at 4.3%. At the lower end of the scale, the Greek Cypriot Administration posted inflation of just 0.1%, with France at 0.8% and Italy at 1.1%.

On a month-to-month basis, consumer prices across the bloc fell by 0.3%, reversing the 0.2% increase recorded in October.

The euro area, often referred to as the eurozone, consists of 20 European Union countries that share the euro as their common currency.

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