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Eurozone inflation grows to 0.6 percent in November

Xinhua, November 30, 2016 Adjust font size:

Eurozone annual inflation is expected to be 0.6 percent in November, up from 0.5 percent in October, according to a flash estimate from Eurostat, the statistical office of the European Union.

The rate was 0.1 percent in the euro area in November 2015.

Looking at the main components of eurozone inflation, services is expected to have the highest annual inflation rate in November, at 1.1 percent, followed by food, alcohol and tobacco, non-energy industrial goods and energy.

Claus Vistesen, chief eurozone economist of Pantheon Macroeconomics, said the data won't change the position of the European Central Bank(ECB) much.

"We continue to think that the central bank will extend quantitative easing by six months to the third quarter of 2017 when it convenes for its December meeting next week," he said.

The ECB's Governing Council will discuss on Dec. 8 whether it needs to extend a 1.7 trillion-euro(1.81 trillion U.S. dollars) quantitative-easing program which is scheduled to end in March 2017. Enditem