2020.12.0109:16:00UTC+00Eurozone Consumer Prices Drop For Fourth Month

Eurozone consumer prices declined for the fourth straight month in November, flash data from Eurostat showed Tuesday.

Consumer prices were down 0.3 percent on a yearly basis in November, the same rate of fall as seen in October. Economists had forecast an annual drop of 0.2 percent. Final data is due on December 17.

Core inflation, which excludes prices of energy, food, alcohol and tobacco, held steady at 0.2 percent in October. The rate came in line with expectations.

The annual fall was largely driven by the weakness in energy prices. Energy prices declined 8.4 percent and non-energy industrial goods prices slid 0.3 percent.

Meanwhile, prices of food, alcohol and tobacco increased 1.9 percent annually and that of services were up 0.6 percent.