Euro area1 annual inflation was 2.2% in November 2012, down from 2.5% in October2. A year earlier the rate was 3.0%. Monthly inflation was -0.2% in November 2012.
EU3 annual inflation was 2.4% in November 2012, down from 2.6% in October. A year earlier the rate was 3.3%. Monthly inflation was -0.1% in November 2012. These figures come from Eurostat, the statistical office of the European Union.
Inflation in the EU Member States
In November 2012, the lowest annual rates were observed in Greece (0.4%), Sweden (0.8%) and Cyprus (1.4%), and the highest in Hungary (5.3%), Romania (4.4%) and Estonia (3.8%). Compared with October 2012, annual inflation fell in twenty four Member States, remained stable in one and rose in one.
The lowest 12-month averages4 up to November 2012 were registered in Sweden (0.9%), Greece (1.2%) and Ireland (1.9%), and the highest in Hungary (5.6%), Estonia (4.3%) and Poland (3.9%).
Euro area
The main components with the highest annual rates in November 2012 were alcohol & tobacco (3.7%), housing (3.6%) and transport (3.0%), while the lowest annual rates were observed for communications (-4.1%), household equipment and recreation & culture (both 1.1%). Concerning the detailed sub-indices, fuels for transport (+0.14 percentage points), electricity (+0.10) and gas (+0.08) had the largest upward impacts on the headline rate, while telecommunications (-0.20), cars and financial services (-0.06 each) had the highest downward impacts.
The main components with the highest monthly rates were food and clothing (both 0.4%), alcohol & tobacco and household equipment (both 0.1%), while the lowest monthly rates were observed for transport (-1.3%), communications (-0.7%) and hotels & restaurants (-0.6%). In particular, garments and meat (+0.03 each) had the highest upward impacts, while fuels for transport (-0.15), accommodation services (-0.06), air transport and package holidays (-0.03 each) had the largest downward impacts.
