Eurozone inflation remained at year-on-year level of 2.4% in November, in a reading that met estimates.
Month-on-month it dropped 0.6%, a faster clip than the anticipated 0.5% decline, and now not far off the central bank’s 2% target.
Core inflation — a reading that strips out the more volatile measures — was still at 3.6% year-on-year, hitting estimates. Core inflation was at 4.2% in October.
Food, alcohol and tobacco saw the highest inflation rate in November, at 6.9%. This was down from 7.4% in October.
Read More : Consistent at 2.4%: Eurozone Inflation Remains Unchanged in November