US EditionEuro zone inflation up a notch to 2.2% in November, flash data shows
Eurozone inflation rose to 2.2% in November, with core inflation steady at 2.4%, reducing the likelihood of near-term European Central Bank rate cuts, Eurostat said.
- On Tuesday, Eurostat's flash data showed euro zone inflation at 2.20% in November, slightly above economists polled by Reuters' 2.1% expectation.
- With gas and oil down sharply, falling energy prices helped offset robust services inflation, as natural gas prices are more than 40% lower and crude oil LCOCc1 is down over 10% this year.
- Eurostat's subindexes indicate underlying inflation held steady at 2.40%, with services inflation at 3.50%, non-energy industrial goods at 0.60%, and the jobless rate rising to 6.4%.
- Markets now price almost no chance of a cut at the European Central Bank's December 18 meeting and only a one-in-four chance of easing next year, as the ECB holds its deposit rate at 2%.
- ECB officials say rate-cut talk may revive next year if inflation dips below target in 2026, though top ECB board members signal the easing cycle is near its end and remain data dependent.
41 Articles
41 Articles
Inflation in November accelerated to 2.2% in November, after 2.1% in October. The underlying inflation, which excludes volatile prices, remained stable at 2.4%.
Euro steadies after inflation data, dollar rises vs yen as JGB auction brings relief
The euro steadied after data on Tuesday showed euro zone inflation was slightly hotter-than-expected, while the dollar rose against the yen as an auction of Japanese government debt drew solid demand, easing investor nerves after Monday's selloff in global fixed income.
Inflation in the eurozone rose unexpectedly in November. At 2.2 percent, it remained above the European Central Bank's target.
Eurozone inflation rises as Finland holds steady
Inflation in the euro area increased in November, but Finland’s consumer prices rose more slowly. According to Eurostat, prices in the eurozone were 2.2 percent higher than a year earlier. This was a slight rise from October. In Finland, prices increased by 1.4 percent compared to last year, the same rate as in October. The main drivers of inflation in the euro area were services and food. Energy prices continued to fall.
Coverage Details
Bias Distribution
- 46% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
