Global Economy
Eurozone Inflation Holds Steady at 2.1% in November, Eurostat Reports
Eurostat’s latest price statistics show that the euro‑area’s annual inflation rate stayed at 2.1% in November, unchanged from October. Across the European Union the headline rate dipped to 2.4% from 2.5% a month earlier, matching the level recorded a year ago. The data highlight a stark contrast between low‑inflation countries such as Cyprus, France and Italy and high‑inflation outliers like Romania, Estonia and Croatia. Services were the main driver of price growth, adding 1.58 percentage points, while food, industrial goods and energy had smaller impacts.
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Eurostat released its November price data on Wednesday, showing that the annual inflation rate for the euro area held steady at 2.1%, identical to the October figure.
Across the 27‑nation European Union, inflation slipped to 2.4% in November from 2.5% the month before, matching the rate from a year earlier.
Country‑level performance
- Lowest annual rates were recorded in Cyprus (0.1%), France (0.8%) and Italy (1.1%).
- Highest rates appeared in Romania (8.6%), Estonia (4.7%) and Croatia (4.3%).
Compared with October, inflation fell in twelve member states, remained unchanged in five, and increased in ten.
What drove the numbers?
- Services were the biggest inflationary driver, adding 1.58 percentage points to the overall rate.
- Food prices contributed +0.46 pp.
- Industrial goods (excluding energy) added +0.14 pp.
- Energy prices slightly reduced inflation by –0.04 pp.