Eurozone Inflation Confirmed At 0.3%

Eurozone inflation came in line with flash estimate in November at a five-year low, final data from Eurostat showed Wednesday.

Annual inflation came in at 0.3 percent in November, down from 0.4 percent in October. A year ago, the rate was at 0.9 percent. The November inflation matched flash estimate released on November 28.

The latest figure equaled September's inflation rate and was the weakest since October 2009, when prices fell 0.1 percent.

On a monthly basis, the harmonized index of consumer prices dropped 0.2 percent in November.

Core inflation that excludes energy, food, alcohol and tobacco held steady at 0.7 percent in November. The core rate also matched initial estimate.

In the European Union, inflation was 0.4 percent versus 0.5 percent in October.

According to the latest European Central Bank staff macroeconomic projections, inflation for 2014 will be 0.5 percent, down from 0.6 percent predicted in September. The projection for next year was reduced to 0.7 percent from 1.1 percent.

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