Eurozone headline inflation edges higher in November, core rate remains unchanged

According to data released by Eurostat,  the statistical office of the European Union, on Friday, inflation in the eurozone crept up again in November, inline with expectations. According to the Eurostat’s final reading, of Eurozone annual CPI reading came in at 0.6 percent in November, matching consensus forecast and higher than 0.5 percent preliminary figure.

However, the more important core rate showed no growth and stayed unchanged from 0.8 percent seen in October, matching forecasts for a 0.8 percent increase. The core rate declined slightly from the 0.9 percent rate seen in November 2015.

Energy prices fell 0.2 percent on the month and 1.1 percent y/y and compared with a 7.3 percent decline in the year to November. Prices for non-energy industrial goods were unchanged on the month with an annual rate of 0.3 percent. Services sector prices fell 0.3 percent on the month and held at 1.1 percent y/y compared with 1.2 percent in November 2015.