Eurozone Verbraucherpreise

The annual inflation rate in the Eurozone increased to 2.2% in November 2024 from 2% in October, but below 2.3% in the preliminary estimate. This year-end increase was largely expected due to base effects, as last year’s sharp declines in energy prices are no longer factored into annual rates. Prices of energy fell at a much softer pace (-2% vs -4.6% in October, compared to -1.9% in the preliminary estimate) and cost for non-energy industrial goods rose more (0.6% vs 0.5%, compared to 0.7% in the preliminary estimate). On the other hand, inflation eased for services (3.9% vs 4%, matching the preliminary estimate) and food, alcohol and tobacco (2.7% vs 2.9%, also below 2.8% in the first estimate). Compared to the previous month, the CPI fell 0.3%, matching the figures from the advance estimate. Annual core inflation was confirmed at 2.7%, in line with the flash reading.