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%.
