FX.co ★ EU inflation slows amid lower energy prices

The annual rate of inflation in the eurozone started to decelerate, according to Eurostat. The harmonized index of consumer prices rose at an annual rate of 10% in November, down from 10.6% a month earlier. The EU authorities and the ECB managed to curb raging inflation in the region. Notably, energy prices eased to 34.9% in November from 41.5% a month earlier and helped cool down inflation. At the same time, food prices climbed slightly to 13.6% year-over-year from 13.1% in October. Inflation in the manufacturing sector remained unchanged, while in the service sector it was down 0.1%. The eurozone inflation has moderated by 0.6% for the first time in 18 months. Meanwhile, Bloomberg polled analysts previously predicted that annual inflation in November would stand at 10.4%.