December 8, 2023

According to the statistical office of the European Union (Eurostat), in November 2023, the euro area annual inflation rate is estimated to decline to 2.4% from the 2.9% reported in October 2023.

Food, alcohol & tobacco is expected to have the highest annual rate of 6.9% relative to 7.4% in October 2023, followed by services with a rate of 4.0% (October 2023: 4.6%), non-energy industrial goods with a rate of 2.9% (October 2023: 3.5%), and energy with a rate of -11.5% (October 2023: -11.2%).

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