According to a flash estimate from Eurostat, euro area annual inflation is expected to be 1.0% in November 2019, up from 0.7% in October. Economists had expected a 0.9% increase.

Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in November (2.0%, compared with 1.5% in October), followed by services (1.9%, compared with 1.5% in October), non-energy industrial goods (0.4%, compared with 0.3% in October) and energy (-3.2%, compared with -3.1% in October).

Meanwhile, the core figure arrived at +1.3% in the reported month when compared to +1.2% expectations and +1.1% previous.

The Eurozone inflation report comes a day after the German Prelim CPI data was released, which showed that the German consumer price inflation accelerated by 1.2% YoY but remained well below the ECB rate target of just under 2 percent for the Eurozone as a whole.