Eurozone Inflation Hits 2-and-half Year High in November

Inflation in the 19-member eurozone rose to a two-and-half year high in November, helping to ease the pressure on the European Central Bank as it struggles to keep consumer prices in positive territory.

    Annual inflation in the currency bloc climbed to 0.6 per cent this month from October, when it rose by 0.5 per cent, dpa cited the European Union statistics office Eurostat preliminary data released on Wednesday.

    However, the inflation rate remained well short of the ECB's goal of driving consumer prices back towards the Frankfurt-based bank's annual target of annual inflation coming in at just below 2 per cent.

    Inflation in the currency bloc now stands at its highest rate since April 2014, when inflation stood at 0.7 per cent, Eurostat said. The November increase was in line with analysts' forecasts.