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Financial News: Eurozone Inflation Rises In November

Eurozone Inflation Rises In November

11/30/2017 - 05:19:00 (RTTNews)

(RTTNews) - Eurozone inflation increased in November largely due to higher energy prices, flash data from Eurostat showed Thursday.

Consumer prices advanced 1.5 percent year-on-year in November, following October's 1.4 percent increase. Inflation was forecast to rise to 1.6 percent.

Nonetheless, inflation continues to stay well below the European Central Bank's target of 'below, but close to 2 percent'.

Excluding energy, food, alcohol and tobacco, core inflation held steady at 0.9 percent in November, while it was forecast to climb to 1 percent.

Data showed that food, alcohol and tobacco prices rose 2.2 percent, slightly slower than the 2.3 percent increase seen a month ago. Meanwhile, growth in energy prices accelerated to 4.7 percent from 3 percent.

Non-energy industry goods prices grew 0.4 percent for the second straight time. Likewise, services charges grew again by 1.2 percent.

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