Inflation in the Eurozone was negative for the fourth consecutive month in November, coming as part of a four-year low, as energy prices dropped by 8% for the same period.
European Commission flags
Photo: Sébastien Bertrand / Flickr Licence: CC BY
For the 19 countries that use the euro, inflation was down 0.3% both month-on-month and year-on-year, in line with estimates for the beginning of December.
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The numbers the year prior clocked in at around 1.3%, according to a report released by Eurostat, the European Union's statistical office.
The lowest annual rates were registered in Greece (-2.1%), Estonia (-1.2%), Slovenia and Cyprus(both -1.1%) with the highest annual rates recorded in Poland (3.7%), Hungary and the Czech Republic (both 2.8%). When compared to October, annual inflation fell in fourteen member states, remained stable in four and rose in nine.
For November, the highest contribution to the results was food, tobacco and alcohol, which added 0.36 percentage points to the final result.
Barring certain variables, the European Central Bank (ECB) admits prices were down 0.4% month-on-month and up 0.4% year-on-year.
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The flash estimate for inflation in November, which was published on December 1, was 0.3%.
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