Eurozone November preliminary CPI +2.3% vs +2.3% y/y expected

• Prior +2.0%
• Core CPI +2.7% vs +2.8% y/y expected
• Prior +2.7%

The headline estimate may have nudged higher in November, largely due to base effects, but the core estimate remains steady at 2.7%. If anything, it reaffirms a 25 bps rate cut for next month as the disinflation path remains bumpy in the euro area. Looking at the details, services inflation did come down a little from 4.0% in October to 3.9% in November.

This article was written by Justin Low at www.forexlive.com.