Euro-zone annual inflation down to 2.2%

EU15 stable at 2.1%

Euro-zone annual inflation fell from 2.3% in October 2002 to 2.2% in November 2002, Eurostat – the Statistical Office of the European Communities in Luxembourg – reports today. A year earlier the rate was 2.1%.

EU15 annual inflation remained stable at 2.1% between October and November 2002. A year earlier the rate was 1.8%. EEA annual inflation was 2.1% in November 2002.

Inflation in Member States
In November, the highest annual rates were recorded in Ireland (4.7%), Portugal (4.1%), Spain and Greece (both 3.9%); the lowest rates were observed in Germany (1.0%), Belgium (1.1%) and Sweden (1.4%).

Compared with October 2002, annual inflation rose in six Member States, fell in five and remained stable in four. Compared with November 2001, the biggest relative falls were in Sweden (2.9% to 1.4%), Belgium (1.8% to 1.1%) and Germany (1.5% to 1.0%) and the biggest relative rises were in the United Kingdom (0.8% to 1.6%), Luxembourg (1.4% to 2.7%) and Denmark (1.7% to 2.8%).

Lowest 12-month averages up to November 2002 were in the United Kingdom (1.2%), Germany (1.3%) and Belgium (1.6%); highest were in Ireland (4.7%), the Netherlands (4.1%) and Greece (3.9%).

USA and Switzerland
In Switzerland annual inflation fell from 1.2% in October to 0.9% in November 2002. Data from the USA were not yet available in time for publication. These indices are not strictly comparable with EU harmonized indices.

(source: Eurostat)

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