Preliminary euro zone inflation was 10.0% yoy in November, up from 10.6% yoy in October. The data reinforces Commerzbank’s forecast that the ECB will only raise key rates by 50 basis points at its December meeting.
Eurozone inflation rate drops surprisingly to 10.0%
“The euro zone inflation rate fell much more than expected, from 10.6% in October to 10.0% in November. It is not known whether this means that the inflation rate has peaked, in view of the extreme fluctuations in energy prices.”
“Core price inflation remains high. The core inflation rate, excluding energy, food, alcohol and tobacco, held at 5.0% in November.”
“Today’s data raises the likelihood that the ECB will raise its key interest rates by just 50 basis points in December“.
Source: Fx Street
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