Yahoo Finance Eurozone inflation remains at 2.4% in November
Eurozone inflation remained at year-on-year level of 2.4% in November, in a reading that met estimates.
Month-on-month it dropped 0.6%, a faster clip than the anticipated 0.5% decline, and now not far off the central bank's 2% target.
Core inflation — a reading that strips out the more volatile measures — was still at 3.6% year-on-year, hitting estimates. Core inflation was at 4.2% in October.
Food, alcohol and tobacco saw the highest inflation rate in November, at 6.9%. This was down from 7.4% in October.
Services prices were up 4% on the month, with non-energy industrial goods at 2.9%.
Read more: Trending tickers: UBS | Maersk | BP | Apple | Entain
Energy prices were down 11.5% compared to November 2022.
The data comes following a big week of central bank news, which saw the European Central Bank (ECB) keep rates unchanged and the Federal Reserve hint at a more hawkish path for the US. There has been speculation the ECB will start cutting rates again next year as inflation appears to cool.
However, policymakers have had to quell these expectations since the meeting last week. Slovenia's central bank governor Bostjan Vasle said on Monday the ECB will need to wait to spring until it reassesses the path.
Watch: Inflation is cooling, but the progress is exaggerated: Economist
Download the Yahoo Finance app, available for Apple and Android.
