The Eurozone inflation rate is expected to accelerate slightly in November to 1.5% from the previous month when it was at 1.4%. This is the preliminary estimates of the European Statistical Office Eurostat. Despite a slight rise, however, the growth did not meet the expectations of analysts expecting an increase of 1.6%.
The main push of consumer prices for a consecutive month comes from energy prices, with a much higher growth than in October – from 3.0% to 4.7%. The food, alcohol and tobacco prices moderately slowed their rise from 2.2% in the previous month to 2.3%.
The rise in service prices remains unchanged at 1.2%. The same applies to non-energy industrial goods prices, which remain stable at 0.4%.
The core inflation, which excludes changes in volatile commodity prices such as energy and food and is considered a more accurate indicator, also remains unchanged compared to the previous month at a level of 0.9%.
Eurostat final inflation data in the euro area and the European Union as a whole will be published on December 18.