Forex - Eurozone Flash November HICP inflation - headline inflation bounces back up to 1.0%, core inflation moves higher to 1.3%


 10:20 (GMT) 29 Nov

  [Economic Data]

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As we expected, Eurozone HICP inflation rose to 1.0% y/y in November, after falling to 0.7% in October, supported by the rise in core inflation to 1.3%, from 1.1% in October.

Eurozone Flash November HICP inflation - headline inflation bounces back up to 1.0%, core inflation moves higher to 1.3% (0101-PVYY-C01)

Within core inflation, services inflation picked up decisively in November, rising to 1.9% from 1.5% in October and were accompanied by a gentle rise in non-energy industrial goods inflation, up to 0.4% from 0.3% in October and an average thus far in 2019.

Eurozone Flash November HICP inflation - headline inflation bounces back up to 1.0%, core inflation moves higher to 1.3% (0101-PVYY-C02)

Among the more volatile components, unprocessed food jumped higher to 1.8% y/y in November, having been stable at just 0.7% in September and October. Deflation in the energy space, instead, remained unchanged at 3.2% y/y.

Despite an improvement driven by its core component, inflation remains weak for ECB's standards, with some countries having experienced outright (soft) deflation in recent months. While this is less than ideal for the monetary policy setter, it is supporting of overall economic growth as such subdued inflation enhances households' purchasing power.


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