The annual rate of inflation slows down in the eurozone in November

The annual rate of inflation in the euro zone – which includes 19 countries – slowed in November, to 10% from 10.6% in October, according to preliminary estimates by the European Union’s statistics office “Eurostat” released on Wednesday.

Inflation slowed more than expected as expectations were that it would reach 10.4%, according to Reuters.

Eurostat data showed that the slowdown in inflation in November was mainly due to the drop in energy price inflation in November to 34.9% from 41.5% in October.

While food, alcohol and tobacco price inflation rose to 13.6% in November from 13.1% in October.

(Prepared by: Shaima Hefzy, Edited by: Maryam Abdel-Ghani, to communicate with [email protected])

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