Euro zone inflation in November 2025
A Christmas market in Cottbus, Germany.
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Flash data published by data agency Eurostat on Tuesday showed that euro zone inflation stood at 2.2% in November, marking a slight increase from the previous month.
The latest consumer price index reading is just a shade above the European Central Bank’s 2% target. Economists polled by Reuters had expected a reading of 2.1% for the twelve months to November.
Looking at the main components of euro area inflation, services are expected to have the highest annual rate at 3.5% in November, compared to 3.4% in October. Eurostat said.
Core inflation, which excludes more volatile energy, food, alcohol and tobacco prices, was 2.4% in November, unchanged from the previous month.
After making its last rate cut in June, the ECB kept the deposit rate at 2% for the third consecutive year at the end of October.
The cut, which coincided with eurozone inflation reaching the European Central Bank’s target rate of 2%, was part of a cycle of rate cuts that brought rates down from the same period last year. Record level at 4%.
Senior board members of the European Central Bank have told CNBC in recent months that the easing cycle is near or nearing its end, but the central bank has repeatedly said it will take a meeting-by-meeting and data-driven approach to setting interest rates.
After the October meeting, ECB President Christine Lagarde told CNBC that the economy is in a good place in terms of monetary policy.
“Is it a stable, good place? No. But we’ll do whatever it takes to make sure we stay in a good place,” he said.
