BRUSSELS, November 30, 2023 – Euro area annual inflation is expected to be 2.4% in November 2023, down from 2.9% in October 2023. This is according to a flash estimate from Eurostat, the statistical office of the European Union.
Food, alcohol & tobacco is expected to have the highest annual rate in November (6.9%), followed by services (4.0%), non-energy industrial goods (2.9%), and energy (-11.5%).
The decline in the inflation rate is due to a number of factors, including a fall in energy prices and a moderation in the pace of price increases for food and services. Despite the fall, inflation is still well above the European Central Bank’s target of 2%.
Key Points:
- Euro area annual inflation is expected to be 2.4% in November 2023, down from 2.9% in October 2023.
- Food, alcohol & tobacco is expected to have the highest annual rate in November (6.9%).
- The decline in the inflation rate is due to a number of factors, including a fall in energy prices and a moderation in the pace of price increases for food and services.
Source: Eurostat
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