The annual inflation rate in the Eurozone increased for the second consecutive month, reaching 2.3% in November 2024, up from 2% in October, according to preliminary data.
The annual inflation rate in the Eurozone increased for the second consecutive month, reaching 2.3% in November 2024, up from 2% in October, according to preliminary data. This rise aligns with market expectations and reflects the diminishing impact of last year’s sharp drop in energy prices on the annual comparison.
Energy prices fell by 1.9% in November, a smaller decline compared to the 4.6% drop recorded in October. The cost of non-energy industrial goods rose by 0.7%, exceeding the 0.5% increase seen the previous month. Conversely, services inflation eased slightly to 3.9%, down from 4% in October, while food, alcohol, and tobacco prices grew at a slower rate of 2.8%, compared to 2.9% in the prior month.
Core inflation, which excludes volatile items such as food, energy, alcohol, and tobacco, remained steady at 2.7%, defying expectations of a rise to 2.8%. On a monthly basis, the Consumer Price Index (CPI) decreased by 0.3%, following a 0.3% increase in October.
Source: Eurostat
US Producer Inflation AcceleratesUS producer prices rose 0.4% month-on-month in August, following a revised 0.1% increase in July. The reading matched market expectations and marked the strongest monthly increase in three years.
Detail Euro Gains Ahead of ECB Decision (09.10.2026)Monetary policy expectations remained the main driver on Thursday, with the euro advancing toward 1.1640 ahead of a widely anticipated ECB rate hike.
Global markets remained focused on rising energy costs and expectations for further monetary tightening as Middle East tensions continued to pressure commodity markets.
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