The countries with the highest inflation in the euro zone

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The annual rate of inflation in the euro zone registered a decrease beyond expectations in November, this being the first decrease in inflation recorded by the euro zone after June 2021.

According to a preliminary estimate published on Wednesday by Eurostat, the annual inflation rate in the euro area fell to 10% in November 2022, from a record level of 10.6% recorded in October.

The figure announced by Eurostat is better than analysts’ estimates, which were counting on a price increase of 10.4%. The decrease in inflation in the euro area is mainly explained by the fact that energy prices registered an advance of 34.9% in October, significantly lower than the 41.5% advance recorded in October. In contrast, food price inflation continued to accelerate, from 13.1% in October to 13.6% in November. Also, Eurostat data shows that core inflation, i.e. what remains after the prices of volatile goods such as energy and food are removed, continued to rise to 6.6%, from 6.4% in October.

The fact that inflation fell in November should reduce pressure on the European Central Bank, which this year had to start the fastest increase in benchmark interest rates in its history to keep under control inflation that is five times over its 2% target, AFP notes.

The countries with the highest inflation in the euro area 

Among the euro zone countries, the highest inflation is recorded in the Baltic countries, all with a price increase of over 20%, the leader being Latvia (21.7%), followed by Estonia and Lithuania (both with an inflation of 21.4%). At the opposite pole, the lowest price increases are recorded in Spain (6.6%) and France (7.3%)

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