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Eurozone inflation slows to 10.0% in November - Eurostat

Economic Indicators Nov 30, 2022 05:05AM ET
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By Scott Kanowsky

Investing.com -- Eurozone inflation fell by more than expected to 10.0% in November, according to preliminary data on Wednesday from the European Commission's statistics arm Eurostat.

The figure is down from a revised reading of 10.6% year-on-year in October and below economists' forecasts of 10.4%.

The drop also breaks a 12-month streak of fresh record highs for the monthly consumer price index. However, the number still remains at heavily elevated levels compared to the rest of the currency area's over two-decade history - and five times the European Central Bank's stated 2% target.

ECB president Christine Lagarde has regularly stated that tackling inflation is one of her top goals, and has hinted that policymakers will continue to raise interest rates even if it comes at the expense of broader economic activity.

The ECB has hiked its rate on bank deposits by 200 basis points to 1.5% over the past three months in an attempt to cool down red-hot demand.

Earlier this week, Lagarde argued that price growth has yet to peak and could still go even higher than current forecasts predict.

Eurozone inflation slows to 10.0% in November - Eurostat
 

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Comments (9)
충만 배
충만 배 Nov 30, 2022 8:50AM ET
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10.0% inflation is still high.
Tony Hall
Tony Hall Nov 30, 2022 7:27AM ET
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10% inflation and the European markets are rallying, wow! We thought we had it bad at a meisly 7.2%. I suspect powell will throw the markets in a tailspin this afternoon and we start pulling back again. If not then a lot of downward trend lines and 200 day MA will break to the upside which would be bullish for stocks. Indeed Santa Clause rally came early this year.
Dave Jones
Dave Jones Nov 30, 2022 6:51AM ET
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My God only 10%!
Biliana Beliashka
Biliana Beliashka Nov 30, 2022 5:33AM ET
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Christine Lagart to jail
Maximus Maximus
Maximus Maximus Nov 30, 2022 5:33AM ET
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you're barking up the wrong tree here.. without putlers war of aggression in Ukraine, and the after-effects of the pandemic, inflation would be far more modest
Luke Knoep
Luke Knoep Nov 30, 2022 5:33AM ET
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Kid Jeremy they dont print more money. Inflation has gone up because we keep buying things that are in low supply. When demand is higher than supply, prices go up. You shiuldve learned this in elementary school.
Gennadiy Ryabkin
Gennadiy Ryabkin Nov 30, 2022 5:33AM ET
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Luke Knoep  read what is "quantitative easing"
Nov 30, 2022 5:29AM ET
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as a German I am are celebrating 🥳....oh wait food CPI is on all time high with 21%....ahh who cares who needs to eat anyway
Biliana Beliashka
Biliana Beliashka Nov 30, 2022 5:29AM ET
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in Bulgaria food prices are 100-200% more expensive than in German, and salaries are 500 euro
Nov 30, 2022 5:29AM ET
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Biliana Beliashka yes I know even the 21% are fake....cheese basicly doubled in Germany
Biliana Beliashka
Biliana Beliashka Nov 30, 2022 5:29AM ET
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15 euro in bg
Gennadiy Ryabkin
Gennadiy Ryabkin Nov 30, 2022 5:29AM ET
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Biliana Beliashka  for pound? for Edem, Mozzarella, Gouda, what are you even talking about crazy woman?
Leonidas Zamora
Leonidas Zamora Nov 30, 2022 5:27AM ET
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ecb has to revise the health insurance calculation in order to manipulate the cpi just like what fed did with core cpi last month
Milan Mandic
Milan Mandic Nov 30, 2022 5:26AM ET
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waiting for Powell conference today, meantime Euro go up
Aslihk Ialsm
Aslihk Ialsm Nov 30, 2022 5:16AM ET
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ki kore
AIT OUBELLA Marouane
dogofallstreets Nov 30, 2022 5:13AM ET
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Now treating EUR like inflation is vanished despite the high rate of 10% ECB will likely not pivot soon
 
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