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Eurozone inflation remains unchanged at 0.1 pct: official data

Xinhua, December 3, 2015 Adjust font size:

The first estimate of annual inflation in the eurozone in November is 0.1 percent, unchanged compared to October, Eurostat said Wednesday.

The statistical office of the EU said the main reason for the low inflation rate in November was energy costs, which continued to plunge this month at minus 7.3 percent, after a level of minus 8.5 percent in October.

Food, alcohol and tobacco is expected to gain its highest annual rate in November at 1.5 percent, followed by services at 1.1 percent and non-energy industrial goods at 0.5 percent of inflation.

The data is far below the "below, but close to 2 percent" target of the ECB, which suggested the bank's 1 trillion euros (about 1.06 trillion U.S. dollars) quantitative easing drive had achieved its desired effects and increased raised pressure on the bloc's expansionary monetary policy. Endit