Eurostat sees November’s EU-harmonized inflation at 3%

Euro area annual inflation is expected to be 2.3% in November 2024, up from 2% in October according to a flash estimate from Eurostat, the statistical office of the European Union, released on Friday.

Looking at the main components of euro area inflation, services are expected to have the highest annual rate in November (3.9%, compared with 4.0% in October), followed by food, alcohol & tobacco (2.8%, compared with 2.9% in October), non-energy industrial goods (0.7%, compared with 0.5% in October) and energy (-1.9%, compared with -4.6% in October).

In Greece, annual inflation is estimated to have eased slightly to 3% in November, down from 3.1% in October.

Within the eurozone, Belgium recorded the highest inflation rate in November at 5%, followed by Croatia at 4%, and Estonia and the Netherlands at 3.8%.

The lowest inflation rates in the eurozone were...