Euro Area: Inflation rises in November from October
Latest reading: Harmonized consumer prices rose 2.2% on a year-on-year basis in November, following a 2.1% increase in the previous month and slightly exceeding market expectations.
Relative to the previous month’s figures, there were higher price pressures for energy prices (-0.5% on a year-on-year basis vs -0.9% in October) and services (+3.5% vs +3.4% in October). Finally, the changes in food, alcohol and tobacco and non-energy industrial goods were the same as in the prior month (+2.5% and +0.6%, respectively).
Meanwhile, core consumer prices increased 2.4% on a year-on-year basis in November, unchanged from the prior month’s reading.
Lastly, harmonized consumer prices were down 0.27% in November in month-on-month terms, following a 0.21% rise in the previous month.