FRANKFURT (MktNews) - Final eurozone harmonized consumer prices in November were unrevised from the flash estimate, as expected, with the annual rate falling to +2.2% from +2.3% in October. November HICP fell 0.1% on the month (Eurostat publishes no m/m figure in the flash estimate).
Core HICP -- excluding energy, food, alcohol and tobacco prices -- rose 0.1% on the month in November. The annual rate remained stable at +2.3%, though October was revised down from 2.4%. HICP excluding energy and unprocessed foods -- the core inflation measure favoured by the ECB -- also rose 0.1% in November, with the annual rate falling to 2.3% from 2.4% in October.
In November, the m/m decline in HICP was caused mainly by lower prices for energy (-1.7% m/m), hotel and restaurant costs (-0.3% m/m) and communications (-0.3% m/m). Price increases, on the other hand, were noted for clothing (+0.6% m/m) and health costs (+0.3% m/m). In November, eight of the 12 eurozone states reported annual inflation rates above the ECB's 2% price stability ceiling. Of those eight, two were above 4% and another three were above 3%. //www.marketnews.com