Eurozone inflation rate rises as expected
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Eurozone annual inflation rose for the second consecutive month, reaching 2.3% in November 2024, up from 2% in October, in line with market expectations, according to preliminary estimates.
Core inflation figures Core inflation, which excludes volatile items like food, energy, alcohol, and tobacco, remained steady at 2.7%, defying expectations that it would rise to 2.8%. On a monthly basis, the consumer price index (CPI) declined by 0.3%, following a 0.3% increase in October.
Eurozone inflation rate rises as expected
This increase was largely anticipated due to base effects, as last year’s steep drop in energy prices no longer influences the annual rate. Energy prices fell by 1.9%, a smaller decline than the 4.6% drop in October. Meanwhile, the cost of non-energy industrial goods rose by 0.7%, compared to 0.5% in October. However, inflation slowed for services (3.9% vs 4%) and for food, alcohol, and tobacco (2.8% vs 2.9%).Core inflation figures Core inflation, which excludes volatile items like food, energy, alcohol, and tobacco, remained steady at 2.7%, defying expectations that it would rise to 2.8%. On a monthly basis, the consumer price index (CPI) declined by 0.3%, following a 0.3% increase in October.