Euro area inflation up in Nov. ’24

The euro area annual inflation rate rose to 2.2 per cent in November 2024, up from 2.0 per cent in October, according to Eurostat. A year earlier, the rate was 2.4 per cent. In the European Union, annual inflation increased to 2.5 per cent in November, up from 2.3 per cent in October, and down from 3.1 per cent in November 2023.

Ireland recorded the lowest inflation at 0.5 per cent, while Romania saw the highest at 5.4 per cent. The highest contributors to the euro area inflation were services with 1.74 per cent, food, alcohol, and tobacco with 0.53 per cent, while energy had a 0.19 per cent negative impact.

Inflation increased in most member states, with four experiencing a decline and three seeing stable rates.

Attribution: Eurostat

Subediting: M. S. Salama

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