Euro zone: driven by energy prices, inflation to a record level in November
Powered by constant increases in energy, the inflation rate in the euro zone reached a record level in November, at 4.9% over one year, according to the first monthly estimate published Tuesday by Eurostat.
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In October, the inflation rate in the 19 countries that adopted the single currency had already jumped at 4.1% in annual shift, at the highest since July 2008, still according to the European Statistics Office.Since June, inflation has increased each month in the euro zone: it had reached 3% in August, still in annual shift, before climbing 3.4% in September.
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An increase of 6% by one year of the harmonized price index
Once again, consumer prices have been powered by the outbreak of the cost of energy."Energy should know the highest annual rate in November (+27.4%, compared to 23.7% in October)," said Eurostat on Tuesday in a statement.Among the other components of inflation in the euro zone are mentioned the service sector (2.7%, compared to 2.1%in October), that of industrial goods excluding energy (+2.4%, against 2,0% in October) then food, alcohol and tobacco (2.2%, after 1.9% in October).
In Germany, the first economy in the euro zone, inflation culminated more than 5% in November over one year (5.2% after 4.5% in October), according to the National Statistics Office Destatis.The harmonized price index, which serves as a benchmark at European level, displayed an increase of 6% over a year, atomizing the objective of the European Central Bank (ECB) of 2% inflation in the euro zone.
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According to Eurostat figures, the inflation rate over one year, particularly high in the three Baltic countries (at 7.4% or beyond), is also greater than the average of the euro zone in Belgium (7.1%), in Spain (5.6%) and in the Netherlands (5.6%).In France and Italy it is displayed, still for November, respectively 3.4 and 4.0%.
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