First sign of appeasement on prices in Europe

At 10% over one year, we cannot say that the inflationary surge in the euro zone has subsided.

But, for the first time in seventeen months, the figure was lower in November than that of the previous month (10.6% in October).

This slowdown was driven by a slight decrease in inflation in Germany, Spain, Ireland, Portugal, Greece and by a sharp drop in the Netherlands (from 16.8% to 11%), while it remained stable in France or Italy.

Spain dethroned France from its position at the bottom of the table, with 6.6% over one year, against 7.1% in France, according to harmonized Eurostat data (6.2% according to INSEE) .

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The monthly decline is explained by the beginning of an easing in the rise in energy prices, which fell from 41.5% to 34.9% in one month.

This data will bring water to the mill of the markets, which are watching for the peak of inflation, in the hope of a reversal of the rate hike policy of the European Central Bank (ECB).

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