Inflation in the euro area is hitting a 5% mark. Energy prices are the driving force

The November year-on-year inflation rate in the euro area reached 4.9 percent. This follows from Eurostat’s flash estimate. Energy prices rose the fastest ever, by more than 27 percent.

Rising energy prices in euro-paying countries accelerated again in November. While last November electricity and gas fell by more than eight percent year on year, this November brought a sharp rise in 27.4 percent. Other items included in the harmonized index of consumer prices rose in price from 1.9 to 2.7 percent.

Eurostat measured the highest inflation rate in Lithuania, at 9.3 percent. With 8.4 percent, Estonia followed, with Latvia recording the third highest rate of price growth, at 7.4 percent. On the other hand, Malta recorded the lowest inflation, where prices rose by only 2.3 percent year on year. Inflation was still below 3% (2.7) in Portugal alone.

In the three euro area member states, prices rose by more than 1% compared with October. In Malta, however, there was a month-on-month deflation of 2.4 percent. Malta was also the only euro area country where the price level fell month on month.

author avatar
EditorialTeam
The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Gulf Brokers Ltd. Review

Comparing spreads, commissions, trading platforms, rules and reading dozens...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Qualified Purchaser Explained: Who Qualifies and Why the Status Matters

Private equity funds, hedge funds and other alternative investments...

WSJ: Authentic Brands Group Is Interested in Acquiring Toy Manufacturer Mattel

American company Authentic Brands Group, which specializes in the...

What Stocks Pay Dividends? How to Identify Sustainable Payers

For investors looking for regular income, one question tends...

OpenAI Unveils Dots, AI Agents for Continuous Unsupervised Work

OpenAI today, at its developer conference, introduced new autonomous...

How to Buy Government Bonds: Direct Purchase, Funds and the Trade-Offs

Government bonds are often associated with stability, predictable income...

Shein Shares Plunge by Up to 14 Percent to a Low Following Quarterly Profit Decline

Shares of Shein, the online fast-fashion retailer, plunged by...

Chipmaker AMD acquires AI firm World Labs for over eight billion dollars

U.S. chipmaker Advanced Micro Devices (AMD) has agreed to...

How to Invest $100K: A Framework Based on Time Horizon and Risk Capacity

Receiving, saving or accumulating $100,000 creates an attractive investment...
spot_img

spot_imgspot_img