By Gokhan Ergocun
ISTANBUL (AA) – Inflation rates declined in both the euro area and EU in November, according to official data released on Friday.
Euro area annual inflation dropped from October’s 10.6% to 10.1%, while the EU saw a dip from 11.5% to 11.1%, the bloc’s statistical office Eurostat reported.
The lowest annual rates were seen in Spain (6.7%), France (7.1%), and Malta (7.2%), while the highest rates were in Hungary (23.1%), Latvia (21.7%), and Estonia and Lithuania (both 21.4%).
Overall, annual inflation declined in 16 member states, remained stable in three, and increased in eight, Eurostat said.
Energy prices continue to be the strongest driver of inflation, followed by food, alcohol and tobacco, and services, it added.