Price of goods across euro zone increases 1.5% in a year

The price of consumer goods across the euro zone increased by 1.5 per cent in the year to November.

Figures from Eurostat show the lowest rates of inflation in Cyprus, at 0.2 per cent, Ireland, at 0.5 per cent and Finland, at 0.9 per cent. The highest inflation across the EU was in Estonia, at 4.5 per cent, Lithuania, at 4.2 per cent and the UK, with 3.1 per cent.

The largest upward impact to the euro area annual inflation came from fuels for transport, heating oil, and milk, cheese and eggs.

The biggest downward impacts came from telecommunications and clothing.

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Annual inflation for the European Union ran slightly ahead of inflation for the euro area at 1.8 per cent in November. A year earlier the rate was 0.6 per cent.