Eurozone inflation slows to 10% in November
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Annual inflation in 19 eurozone countries slowed to 10% in November after a record 10.6% in October, follows from preliminary data Eurostat.
The highest annual inflation rates were recorded in Latvia (21.7%), Estonia and Lithuania (21.4%) and Hungary (21.9%), the lowest – in Spain (6.6%), France (7.1%) and in Malta (7.2%).
The Eurozone includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
On September 8, the European Central Bank (ECB) raised rates by 0.75 percentage points (p.p.). The regulator has taken such a step only once in history – in January 1999, as part of a three-week technical adjustment to smooth out the effect of the introduction of the euro. At the meeting on October 27, the regulator again raised the rate by the same amount. Eurostat also earlier reported that the economies of the eurozone countries in the III quarter compared to II grew by 0.2%. In annual terms, the eurozone GDP increased by 2.1%.
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