Consumer prices in eurozone turn higher

Dec. 17, 2013 at 9:46 AM
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BRUSSELS, Dec. 17 (UPI) -- The annual inflation rate in the 17-member eurozone rose in November for the first time since June, Eurostat said Monday.

The official statistics office for the European Commission said annual inflation for the currency region was 0.9 percent in November, up from 0.7 percent in October.

Consumer prices from October dropped 0.1 percent, Eurostat said.

Inflation in the wider 28-member European Union, also gained, rising one tick from 0.9 percent to 1 percent in November, Eurostat said.

Inflation rates have dropped significantly over the past year. In November 2012, the annual inflation rate was 2.2 percent and 2.4 percent for the eurozone and the EU, respectively.

In November, the highest rates were posted by Estonia, Finland and Germany with rates of 2.1 percent, 1.8 percent and 1.6 percent, respectively.

The lowest inflation annual rates in November were posted by Greece, Bulgaria and Cyprus with rates of minus 2.9 percent, minus 1 percent and minus 0.8 percent, respectively.

Eurostat said energy prices dropped at an annual rate of 1.1 percent in November. Food, alcohol and tobacco prices rose 1.6 percent in the month. Core prices -- price changes with food and energy excluded -- rose 0.9 percent. Comparatively, the 12-month average annual inflation rate for core prices stands at 1.2 percent.

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