The Euro-Zone CPI estimate for November climbed 0.6% from a year ago to mark its first advance in 7 months and topped economists’ expectations for a 0.4% rise after falling 0.1% the month prior, the European Union of Statistics office in Luxembourg reported said today. The data indicated that the gain was primarily led by rising energy costs as oil prices jumped 9% in the past three months, and higher commodity prices may continue to heighten price pressures across the region as the economy recovers from its worst slump since World War II. Looking ahead, as a recovery remains fragile, the jobless rate will likely remain elevated going forward as businesses keep a lid on production and employment, and the European Central Bank is widely expected to maintain its current policy later this week as growth prospects remain weak.
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