FX.co ★ Euro Area Inflation Edges Higher in November

In November 2025, consumer price inflation in the Eurozone increased to 2.2%, rising from 2.1% in October and surpassing market predictions of 2.1%, according to preliminary data. The inflation rate for services climbed to 3.5% from 3.4%, its highest point since April. Conversely, the decline in energy prices was less pronounced, contracting by 0.5% compared to 0.9% in the previous month. Inflation rates for non-energy industrial goods and for food, alcohol, and tobacco remained steady at 0.6% and 2.5%, respectively. Core inflation, which excludes the volatile sectors of energy, food, alcohol, and tobacco, stayed consistent at 2.4%, slightly under the anticipated 2.5%. Among the major economies of Europe, Germany experienced an inflation uptick to 2.6%, the highest since February, exceeding the European Central Bank's 2% target. Conversely, Spain's harmonized index of consumer prices (HICP) saw a slight reduction to 3.1% from 3.2%, and the Netherlands experienced a decrease to 2.6% from 3.0%. France and Italy continued to have inflation rates well below target levels, recorded at 0.8% and 1.1%, respectively.