Eurozone November preliminary CPI +2.3% vs +2.3% y/y expected- Prior +2.0%
- Core CPI +2.7% vs +2.8% y/y expected
- Prior +2.7%
The headline estimate may have nudged higher in November, largely due to base effects, but the core estimate remains steady at 2.7%. If anything, it reaffirms a 25 bps rate cut for next month as the disinflation path remains bumpy in the euro area. Looking at the details, services inflation did come down a little from 4.0% in October to 3.9% in November.
This article was written by Justin Low at www.forexlive.com.
Source: Eurozone November preliminary CPI +2.3% vs +2.3% y/y expected (https://www.forexlive.com/news/eurozone-november-preliminary-cpi-23-vs-23-yy-expected-20241129/)
forexlive.com