Eurozone Inflation Revised Down to 2.2% in November

The European Commission's statistical office, Eurostat, has revised the annual inflation rate in the Eurozone down to 2.2% for November. This figure, which was initially estimated at 2.3%, represents a slight increase from October's 2.0%.

Despite the upward trend, the final November inflation rate narrowly missed analysts' projections, sparking curiosity about the factors influencing this economic indicator.

Monthly Consumer Price Index (CPI) Declines

On a monthly basis, the Consumer Price Index (CPI) experienced a 0.3% decline in the Eurozone. Meanwhile, within the broader European Union, the CPI increased by 2.5% year-on-year but dropped by 0.2% month-on-month.

Key Drivers of Inflation

The annual inflation was primarily driven by services, followed by food, alcohol, and tobacco, and non-energy industrial goods. The lowest rates were observed in Ireland (0.5%), Lithuania, and Luxembourg (both at 1.1%). In contrast, the highest inflation rates were recorded in Romania (5.4%), Belgium (4.8%), and Croatia (4.0%).

Stay tuned for more updates on the Eurozone's economic landscape.