Eurozone inflation nudged up in November to 1.8 percent, but stayed within the European Central Bank's target ceiling of 2.0 percent, a first estimate from the EU's Eurostat data agency showed on Thursday.

The increase comes after headline inflation in the 12 countries sharing the euro fell in October to a 32-month low point of 1.6 percent as oil prices cooled.

The November estimate, which Eurostat is scheduled to confirm or revise on December 15, was spot on private economists' forecasts for a 12-month rate of 1.8 percent, as polled by the financial news agency AFX News.

Headline inflation has closely followed the trend on global oil markets recently where the price of crude has dropped from a record peak around 78 dollars a barrel in mid July to about 62 dollars currently.

Twelve-month eurozone inflation most recently peaked at 2.5 percent in May and June as oil prices soared due to tensions in the Middle East.

Eager to keep a lid on inflation, the European Central Bank has raised eurozone borrowing costs five times since December, each time by a quarter of a percentage point.

The last upward move in ECB interest rates was in October and central bank watchers are projecting a further tightening move next month, bringing the benchmark "refi" refinancing rate to 3.50 percent.

The ECB aims to keep inflation at close to, but less than, 2.0 percent. Experience shows that when inflation exceeds 2.0 percent people begin to anticipate price rises and this tends to add to inflationary pressures.