Annual inflation in the euro area fell to 2.4% in November, down from 2.9% in October. This is stated in the preliminary Eurostat data published today.

Among the main components of inflation in the euro area, food, alcohol and tobacco products have the highest annual growth rate (6.9% compared to 7.4% in October), followed by services (4% compared to 4.6% in October), non-energy industrial goods (2.9% compared to 3.5% in October) and energy (-11.5% compared to -11.2% in October). BTA reported.

NSI: Producer prices decline in October

The indicator is close to the 2% inflation target set by the European Central Bank and strengthens the policy of the Frankfurt institution to maintain high interest rates until this goal is achieved. Inflation reported in November was lower than the forecast of analysts of Bloomberg and FactSet, which bet on 2.7 percent.

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