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Eurozone inflation rises to 1.9 percent in November



Eurozone inflation nudged up in November to 1.9 percent, but stayed within the European Central Bank's target ceiling of 2.0 percent, revised official figures showed Friday.

The initial estimate, published by the EU's Eurostat data agency in late November, had put the inflation rate at 1.8 percent.

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.

For the 25 member European Union as a whole inflation stood at 2.1 percent in November against 1.8 percent in October.

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

Industrial production in the 12-nation eurozone fell by 0.1 percent in October from September, Eurostat said.

Over 12 months it rose by 3.6 percent.

The seasonally adjusted figures were below estimates from a panel of experts questioned by financial news agency AFX News who foresaw a rise of 0.5 percent over the month and 4.4 percent over the year.

In the EU 25, production also fell by 0.1 percent in October with a rise of 3.4 percent over a year.

Further details - Eurostat press release
15 December 2006, 12:59 CET