Financial News: Eurozone Inflation Rises Less Than Estimate

Eurozone Inflation Rises Less Than Estimate

12/18/2024 - 06:11:00 (RTTNews)

(RTTNews) - Eurozone inflation grew at a slightly slower than initially estimated pace in November, revised data published by Eurostat showed on Wednesday.

The harmonized index of consumer prices rose 2.2 percent year-on-year in November, following a 2.0 percent increase in October. The rate was revised down from 2.3 percent.

Core inflation, which excludes prices of food, energy and alcohol and tobacco, was steady at 2.7 percent. The rate matched the flash estimate.

Earlier this month, the <a href=https://www.rttnews.com/3496963/ecb-cuts-deposit-rate-to-3-00.aspx target=_blank >European Central Bank</a> lowered its benchmark rates by a quarter point citing that the disinflation process is on track though growth concerns remain. The deposit rate was reduced to 3.00 percent.

The previous change was a reduction by the same volume in October following a similar cut in September.

Among the main components, services inflation slowed to 3.9 percent from 4.0 percent. Energy prices declined for a fourth month in a row, down 2.0 percent following a 4.6 percent slump in the previous month.

Prices of food, alcohol and tobacco rose 2.7 percent after a 2.9 percent increase in October. Non-energy industrial goods prices were 0.6 percent higher after a 0.5 percent gain.

Month-on-month, the HICP slid 0.3 percent in November.

European Union annual inflation was 2.5 percent in November, which was up from 2.3 percent in October. The lowest annual rates were registered in Ireland, Lithuania and Luxembourg. Meanwhile, the highest rates were seen in Romania, Belgium and Croatia.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Pending Home Sales Surge To Highest Level Since February 2023 (02 hr(s), 41 min(s), 40 sec(s) ago)
(RTTNews) - A report released by the National Association of Realtors on Monday showed pending hom ...Full Story»

Chicago Business Barometer Unexpectedly Deceases In December (02 hr(s), 44 min(s), 40 sec(s) ago)
(RTTNews) - Chicago-area business activity unexpectedly contracted at an accelerated rate in the m ...Full Story»

Slovakian Economic Confidence Strengthens In December (04 hr(s), 25 min(s), 40 sec(s) ago)
(RTTNews) - Slovakia's economic sentiment improved to the highest level in six months, while c ...Full Story»

Cyprus Industrial Output Grows 2.0% In October (04 hr(s), 54 min(s), 40 sec(s) ago)
(RTTNews) - Industrial production in Cyprus expanded at an accelerated pace in October, figures fr ...Full Story»

Portugal Inflation Accelerates To 5-Month High; Industrial Production Falls (05 hr(s), 17 min(s), 40 sec(s) ago)
(RTTNews) - Portugal's consumer price inflation increased at the end of the year to the highes ...Full Story»

Croatia Retail Sales Growth Stable At 6.7% (05 hr(s), 59 min(s), 40 sec(s) ago)
(RTTNews) - Croatia's retail sales expanded at a steady pace in November, data from the Croati ...Full Story»

Swiss KOF Economic Barometer Declines In December (06 hr(s), 04 min(s), 40 sec(s) ago)
(RTTNews) - A measure of the turning points in Switzerland's economy declined in December afte ...Full Story»

Slovenia Inflation Rises To 1.9%, Highest In 7 Months (07 hr(s), 08 min(s), 40 sec(s) ago)
(RTTNews) - Slovenia's consumer price inflation accelerated somewhat at the end of the year to ...Full Story»