Euro area inflation rises in Nov. ’24 

Euro area annual inflation increased to 2.3 per cent in November 2024, up from 2.0 per cent in October, according to a flash estimate from Eurostat.

Among the main components, services recorded the highest annual inflation rate at 3.9 per cent, slightly down from 4.0 per cent in October.

Food, alcohol, and tobacco inflation eased to 2.8 per cent from 2.9 per cent, while non-energy industrial goods saw an uptick to 0.7 per cent from 0.5 per cent.

Energy prices remained in deflation but recovered significantly, with a decline of 1.9 per cent compared to October’s sharper fall of 4.6 per cent.

The rise in inflation signals ongoing adjustments in energy prices and core goods, keeping the European Central Bank’s monetary policy in focus as it manages price stability across the bloc.

Attribution: Eurostat

Subediting: M. S. Salama