Euro-zone inflation up to 2.2 per cent

Source: Associated Press

Higher food and tobacco prices helped push annual inflation to 2.2 per cent in November in the 12-nation region which shares the euro currency from October's 2 per cent, the European Union's statistical office reported on Wednesday 17 December.

For the full 15-nation EU, the rate was 2 percent in November, up from 1.9 percent in October.

The results were in line with expectations and Eurostat's preliminary estimate. With volatile food and energy prices easing, due in part to the strengthening euro, analysts expect inflation to fall back below the European Central Bank's 2 percent target next year.

In November, the highest annual rates were recorded in Ireland (3.3 percent), Spain (2.9 percent) and Italy (2.8 percent), and the lowest rates were in Finland (1.2 percent), Germany, Austria and Britain (1.3 percent each).