Euro area inflation rate estimated at 2.3% in Nov: Eurostat

Services is expected to have the highest annual rate in November (3.9 per cent, compared with 4.0 per cent in October), then non-energy industrial goods (0.7 per cent, compared with 0.5 per cent in October), and at last energy (-1.9 per cent, compared with -4.6 per cent in October).

Inflation trends across the euro zone, as measured by the Harmonised Index of Consumer Prices (HICP), show varied annual and monthly rates for November 2024. Belgium’s estimated annual inflation rate is 5.0 per cent in November 2024, an increase from 4.5 per cent in October 2024, with an expected monthly rate of 0.4 per cent. Similarly, Germany is expected to maintain a steady annual rate of 2.4 per cent, while its monthly rate is expected to decline -0.7 per cent.

In the Baltic states, Estonia’s estimated inflation rate is 3.8 per cent from 4.5 per cent in October, and a decline of -0.7 per cent in monthly rate. Latvia is expected to see an increase in its annual inflation rate of 2.3 per cent with a monthly rate of 0.1 per cent, and Lithuania to witness a slight rise of 1.1 per cent annually and 0.5 per cent monthly.

Southern Europe exhibited mixed trends. Spain is expected to rise to an annual inflation rate of 2.4 per cent with no change in monthly inflation. Meanwhile Greece is expected to see an annual inflation rate of 3.0 per cent with a monthly rate of -1.1 per cent. Portugal's expected annual inflation rate is 2.7 per cent, though its monthly rate may drop -1.0 per cent.

In Western Europe, France is expected to witness an increase of 1.7 per cent in annual rate with a monthly decline of -0.1 per cent, while Italy’ annual inflation is expected to rise 1.6 per cent and no change monthly. Luxembourg is expected to rise 1.1 per cent in annual inflation with an expected monthly decline of -0.4 per cent.

Malta’s annual rate is expected to rise 2.3 per cent, but monthly rate to decline -3.0 per cent. Cyprus is expected to see 2.4 per cent annual inflation, with an estimated decline of -0.8 per cent monthly.

In Nordic region, Finland is estimated to inflate to an annual rate of 1.9 per cent and a monthly decline of -0.1 per cent.

Eastern Europe is expected to show stability in some regions. Slovakia is estimated to witness a slight annual increase of 3.6 per cent with a monthly rise of 0.2 per cent, while Slovenia is expected to rise 1.6 per cent annually and 0.8 per cent monthly.

The euro area consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

Fibre2Fashion News Desk (SG)