Euro zone inflation is expected to hold steady in November, unchanged from the previous month. But with little to no growth, pressure remains on the European Central Bank to increase its massive bond-buying program to boost prices at its monthly meeting on Thursday.
Eurostat said consumer prices in the 19 countries sharing the euro stayed at 0.1 percent in the year to November in its flash estimate, as lower oil prices helped cap any growth in inflation in the currency bloc.
The unchanged headline rate of 0.1 percent is a downside surprise, given that energy inflation was always likely to rise on the anniversary of a big drop in oil prices November last year. But this was offset by a slight fall in food inflation and, more notably, a drop in core inflation from October’s 1.1 percent to 0.9 percent.