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The Eurozone CPI falls for the first time in a year and a half, up to 10%

Brussels, Nov 30 (.).- Year-on-year inflation in the euro area fell six tenths in November, to 10%, which represents the first drop since June 2021 and after last month marking a maximum of 10, 6%, according to preliminary data published today by Eurostat.

In June 2021, inflation stood at 1.9% and began a continuous upward path in which it was beating levels never seen month after month until it exceeded double digits last month.

Core inflation, which excludes energy products, food. tobacco and beverages, due to their more volatile behaviour, remained stable at 5% in November. If only energy and food are excluded, it stood at 6.6% (two tenths more).

Once again, energy was the product category with the highest price increase compared to the same month of the previous year, although the increase of 34.9% observed in November is lower than the 41.5% of the previous month and the 42% seen in June, when it experienced the biggest rise.

Processed foods, alcohol and tobacco also continue to increase their inflation, with an increase of 13.6%, which is more than one point higher than the 12.4% registered in October. The increase in the price of unprocessed food, on the other hand, fell to 13.8% compared to 15.5% the previous month.

On the other hand, non-energy industrial goods registered inflation of 6.1%, an identical rate to that observed the previous month, while the price of services grew by 4.2%, one tenth less.

By country, Spain becomes the partner of the common currency with the lowest inflation, taking into account the harmonized CPI rate that Eurostat uses so that the data from the eurozone countries are comparable.

In November, Spanish inflation at the harmonized rate was 6.6%, while that of France, the country with the lowest price growth to date, stood at 7.1%. Then there are Malta (7.2%), Luxembourg (7.3%), Cyprus (8.3%) and Ireland, Greece and Finland (all three with 9%).

Above double digits remain Portugal (10.3%), Belgium (10.5%), Slovenia (10.8%), Austria (11.1%), the Netherlands (11.2%), Germany (11.3%), Italy (12.5%) and Slovakia (15.1%).

Finally, the Baltic countries continue to be the euro partners most affected by price growth, all of them with year-on-year inflation rates exceeding 20%: Latvia at 21.7% and Lithuania and Estonia at 21.4%. .