Small adjustment in inflation levels in the euro area occurred in November 2024, according to Eurostat's second reading, while structural pressures remained unchanged.
Inflation in the Eurozone
The final estimate showed that the annual consumer price index in the euro area rose by 2.2% in November, slightly lower than the preliminary estimate of 2.3%, but higher than October's 2%. Structural inflation - which excludes volatile food and energy prices - remained stable at 2.7%, confirming initial estimates.
Data for Greece
Eurostat has verified that annual inflation in Greece stood at 3% in November. At the same time, the country recorded the second lowest food inflation in the EU, with an increase of only 0.4% in food and non-alcoholic beverages prices, compared to 2.5% in the EU as a whole. This is the lowest level of food inflation in Greece since May 2021, indicating that price pressures have shifted to other sectors, such as rents and health insurance premiums.
Analysis of Inflationary Trends
For the euro area as a whole, the largest contribution to annual inflation came from:
- Services: +1.74%
- Food, alcohol and tobacco: +0.53%
- Non-energy industrial goods: +0.17%
In contrast, energy prices decreased by 0,191 TP3T.
Differences by Country
Ireland recorded the lowest annual inflation with 0.5%, followed by Lithuania and Luxembourg with 1.1%. In contrast, the highest rates were recorded in:
- Romania: 5,4%
- Belgium: 4,8%
- Croatia: 4%
Compared with October 2024, inflation fell in 4 Member States, remained stable in 3 and rose in 20.