Eurozone consumer prices + 1.5% in November: “Industrial goods” massively dampen prices – do you see this as meaningful?

Eurozone consumer prices will rise by 1.5% in November. That´s the rate of increase which was expected from the Eurostat preliminary publication at the beginning of the month. In October, the annual increase was 1.4%. The core rate (excluding energy and food) only increased by 0.9%. It needs to rise to almost 2.0%, and has to remain there for some time until the ECB considers a change in its interest rate policy. A long way to go!

Foods with + 2.2% and energy with + 4.7% drive the average consumer price increase, while services with + 1.2% pull it down. Industrial goods tear it down by just + 0.4%. Although one may wonder what this has to do with the daily reality of life of consumers, when they buy gas and food every day, but hardly any industrial goods!

The lowest annual inflation rates were measured in Cyprus (0.2%), Ireland (0.5%) and Finland (0.9%). The highest annual rates were recorded in Estonia (4.5%), Lithuania (4.2%) and the United Kingdom (3.1%). recorded. Compared to October 2017. Annual inflation fell in four Member States, remaining at nine unchanged, and an increase in fifteen.

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