Eurozone Inflation Accelerates to Record-High 4.9%

Source: Eurostat

Eurozone annual inflation accelerated to a record-high 4.9% in November, driven mainly by the surge in energy prices during the month. EZU is down 0.75% premarket.

• Annual inflation stood at 4.9% in November, higher than the 4.1% in October and the -0.3% in November last year.
• Core inflation clocked in at 2.6%, faster than the 2.0% in October and 0.2% reported in November 2020.
• Energy prices accounted for the higher annual rate, up by 27.4% in November versus 23.7% in October. 
• Services climbed by 2.7% from 2.1% in October, non-energy industrial goods to 2.4% from 2.0%, and food, alcohol, and tobacco to 2.2% from 1.9%.
• The highest annual rate was recorded in Lithuania, followed by Estonia, Latvia, Belgium, Luxembourg, and Germany.