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According to Eurostat’s flash reading of Eurozone CPI report, the annual reading came in at -0.3% in November, missing expectations of -0.2% and -0.3% previous.

Meanwhile, the core figures came in at 0.2% in the reported month when compared to +0.2% expectations and +0.2% previous.

Key details (via Eurostat)

“Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in November (1.9%, compared with 2.0% in October), followed by services (0.6%, compared with 0.4% in October), non-energy industrial goods (-0.3%, compared with -0.1% in October) and energy (-8.4%, compared with -8.2% in October).”

EUR/USD reaction

EUR/USD holds gains below daily highs of 1.1986 following the Eurozone data disappointment.

The spot adds 0.40% on the day to trade at 1.1975, as of writing.