UK Inflation Cools More Than Forecast as Eurozone Final CPI Holds Near 2%

Overview

• UK consumer prices rose 3.2% year over year in November, down from 3.6% in October, according to the Office for National Statistics.
• On a monthly basis, UK CPI fell 0.2% versus expectations for a 0.1% increase, signaling a sharper slowdown than analysts anticipated.
• UK core CPI, which excludes food and energy, declined 0.2% on the month and increased 3.2% from a year earlier.
• Eurostat’s final estimate put eurozone inflation at 2.1% year over year in November after a one‑tenth downward revision from the preliminary figure, with prices down 0.3% on the month.
• Eurozone core inflation held at 2.4% year over year and fell 0.4% on the month, with services up 3.5% annually, while economists expect the ECB to keep rates unchanged at its upcoming meeting.