BREAKING: Eurozone CPI in line with expectations; Core CPI and monthly headline reading slightly lower

Flash Eurozone headline CPI for November came in 2.3% YoY in line with expectations and higher than 2% previously 

• Headline CPI MoM came in -0.3% vs -0.2% exp. and 0.3% previously
• Flash core CPI came in 2.7% YoY vs 2.8% exp. and 2.7% previously

Italian CPI prelim: 1.4% YoY (Forecast 1.4%, Previous 0.9%)

• Monthly prelim: 0.0% (Forecast -0.1%, Previous 0.0%)

Italian HICP prelim: 1.6% YoY (Forecast 1.4%, Previous 1.0%)

• Monthly prelim: 0.0% (Forecast -0.2%, Previous 0.3%)

Overall today, Eurozone CPI reading is quite dovish, may signal falling lower consumers' activity with rising odds of achieving 2% ECB inflation target in the first half of 2025. However, EURUSD is up almost 0.15% today on weakening US dollar.

Source: XTB Research, Bloomberg Finance L.P