Eurozone annual inflation confirmed at 2.4% in November

By Tuba Ongun

Annual eurozone consumer inflation in November was confirmed at 2.4%, the lowest since July 2021, according to a second reading released on Friday.

The annual increase in consumer prices eased for the seventh straight month, following October's 2.9% year-on-year rise, Eurostat data showed.

The cost of energy dipped 11.5% last month from a year ago, a slight acceleration from October's 11.2% decline.

Food prices increased at a slower pace, 6.9%, year-on-year, down from 7.4% in the prior month.

Yearly consumer inflation in the EU eased from 3.6% in October to 3.1%, data showed.

The lowest annual rates were in Belgium (minus 0.8%), Denmark (0.3%), and Italy (0.6%), while the highest were in Czechia (8%), Hungary (7.7%), and Slovakia and Romania (both 6.9%)

On a monthly basis, the eurozone's consumer price index fell faster than the initially expected 0.6%, the second reading confirmed.

Energy prices fell 2.2% month-on-month in November, while food prices gained 0.3%.