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Eurozone annual inflation slows to 1.9% in November

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Eurozone annual inflation slows to 1.9% in November

Annual inflation in the eurozone eased to 1.9% in November, down from 2.2% in October and lower than a flash estimate of 2.0%.

Energy inflation slowed to 9.1% in November from 10.7% in October, while services inflation declined to 1.3% from 1.5%. Food, alcohol and tobacco prices edged up by 1.9% from the same month a year ago, after rising by 2.2% in the prior month.

Core inflation, which excludes energy, food, alcohol and tobacco, came in at 1.0% in November, lower than the 1.1% recorded in the prior month.

On a month-over-month basis, consumer prices declined by 0.2% in November, with core consumer prices down 0.3%.

European Central Bank President Mario Draghi said Nov. 16 that inflation in the single-currency area may rise at a slower-than-expected pace owing to greater uncertainties in the eurozone.