Eurozone Inflation November 2016

Eurozone

Eurozone: Inflation inches higher in November

Inflation in the Eurozone rose to the highest level since April 2014 in November, providing some evidence that the European Central Bank’s monetary stimulus is bearing fruit. According to a flash estimate released by Eurostat on 30 November, harmonized inflation was 0.6% in November. The result was in line with market expectations and one notch above October’s 0.5% reading.

According to Eurostat, the main contributors to November’s reading were higher prices for services and for food, alcohol and tobacco. Core inflation remained stable at 0.8% in October. Month-on-month price variations and a more detailed set of data will be provided on 16 December.

FocusEconomics Consensus Forecast participants see inflation in the Euro area averaging 0.2% in 2016, which is unchanged from last month’s forecast. For 2017, panelists expect inflation to average 1.3%, which is also unchanged from the previous month’s projection.


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