Eurozone inflation down to 10% in November

EPA-EFE/STEPHANIE LECOCQ

Inflation in the euro area stood at 10% on a yearly basis in November, according to a preliminary estimate by Eurostat published on Wednesday. Month-on-month, the Consumer Price Index (CPI) fell by 0.1%. In October, the annual inflation was at 10.6%. The November report surprised analysts, who predicted the CPI to come in at 10.4%. It was the first drop in Eurozone prices in 17 months and the biggest since 2020.

The main contributors to the CPI in November were energy, with an annual rate of 34.9%, food, alcohol & tobacco at 13.6%, non-energy industrial goods at 6.1%, and services at 4.2%. The core CPI, inflation minus energy, food, alcohol & tobacco, was reported at 5%, unchanged from October.

Baha Breaking News (BBN) / DJ