BRUSSELS / LONDON (IT BOLTWISE) – Inflation in the euro area was stable in November and remained at 2.1 percent. Eurostat has revised down the previously reported rate of 2.2 percent. The European Central Bank is aiming for an inflation rate of 2 percent in the medium term, while core inflation, which excludes volatile prices, remains unchanged at 2.4 percent.
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Inflation in the euro area proved stable in November after statistics agency Eurostat revised the annual inflation rate to 2.1 percent. A value of 2.2 percent was originally reported. This adjustment shows that price pressure in the region remains constant despite economic uncertainties. The European Central Bank (ECB) has set a target of keeping inflation at 2 percent in the medium term, which is seen as a healthy level of economic growth.
A closer look at core inflation, which excludes particularly volatile prices such as energy and food, shows that it remained stable at 2.4 percent in November. This indicator is considered by economists to be an important indicator of the long-term inflation trend because it is less influenced by short-term price fluctuations. The stability of core inflation suggests that underlying economic conditions in the euro area are relatively stable.
Compared to the previous month, consumer prices fell by 0.3 percent in the overall rate, while the core rate recorded a decline of 0.5 percent. These developments are in line with the expectations of economists who had forecast confirmation of the preliminary data. The adjustments to inflation data are an important indicator of the ECB’s monetary policy, which aims to ensure price stability while promoting economic growth.
The current inflation situation in the euro area is influenced by various factors, including global energy prices, the economic recovery after the pandemic and the ECB’s monetary policy measures. Experts assume that inflation will continue to be influenced by these factors in the coming months. The ECB faces the challenge of keeping inflation in line with its target without endangering economic growth.
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