LONDON (ICIS)–The eurozone’s inflation rate
was unchanged in November at a negative 0.3%,
year on year, on the back of lower energy and
industrial goods prices, the statistical office
Eurostat said on Tuesday.
Inflation in the 19-country currency area has
been negative since August.
Financial analysts said the lacklustre figures
are likely to prompt the European Central Bank
(ECB) to approve more stimulus measures to prop
up prices in its upcoming December meeting.
The November inflation reading remained far
lower than the ECB’s target of keeping
inflation close to, but below, 2%.
All major economies within the eurozone, apart
from France (0.2%), posted negative annual
inflation rates in November – Germany (-0.7%),
Italy (-0.3%) and Spain (-0.9%).
Only seven out of 19 countries posted positive
inflation rates, a clear sign of the economic
damage inflicted by the coronavirus pandemic on
the eurozone economy.
“While inflation is seen edging up over the
next few months, this will not prevent the ECB
from implementing more stimulus already in the
upcoming December meeting,” said analysts at