Eurozone November Inflation Revised Lower To 1.9%

(RTTNews) - Eurozone consumer price inflation in November eased more than initially estimated, latest data from Eurostat showed on Monday.

The consumer price index rose 1.9 percent year-on-year, which was slower than the 2 percent flash estimate on November 30. The figure is the lowest since May, when it was at the same level.

Inflation eased from 2.2 percent in October, which was the highest since December 2012.

Core inflation, which excludes energy, food, alcohol & tobacco, dropped to 1 percent from 1.1 percent in October, in line with the flash estimate.

The European Central Bank targets inflation "below, but close to 2 percent".

Last week, the ECB lowered the inflation forecast for next year to 1.6 percent from 1.7 percent. The projection for this year was cut to 1.8 percent from 1.7 percent.

Energy made the highest contribution to the annual euro area inflation rate in November, followed by services, food, alcohol & tobacco and non-energy industrial goods.

The lowest annual rates were registered in Denmark, Ireland and Portugal, while the highest annual rates were recorded in Estonia, Hungary and Romania.

Compared to the previous month, the CPI decreased 0.2 percent in November, in line with economists' expectations.

Separately, the Eurostat reported that the seasonally adjusted trade surplus decreased to EUR 12.5 billion in October from EUR 13 billion in September. Economists had forecast a surplus of EUR 14 billion.

Exports increased 2.1 percent from the previous month and imports rose 2.6 percent.

The unadjusted trade surplus fell to EUR 14 billion in October from EUR 17.8 billion in the same month last year. Exports increased 11.4 percent and imports rose 14.8 percent.
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