Eurozone inflation stable at 3.0 per cent in November

Annual inflation in the eurozone was stable at 3.0 per cent for the third consecutive month in November, while the monthly inflation was 0.1 per cent over the same period, the European Union's (EU) statistical office Eurostat reported on Thursday.

As for the 27-nation EU, annual inflation rate was 3.4 per cent in November, with the monthly figure at 0.2 per cent.

The lowest annual rates in November were observed in Sweden at 1.1 per cent, and the highest was registered in Slovakia and United Kingdom, touching 4.8 per cent.

In the 17-member eurozone bloc, main components with the highest annual rates in November were transport and housing, while the lowest annual rates were observed in communications, recreation and culture.

Analysts expect the ECB to push ahead with yet another rate cut in December to support the weakening European economy.

The ECB had increased rates to 1.5 from 1.0 per cent in two steps - in April, and then in July, but in a surprised move in November, cut the rate to 1.25 per cent.(See: New ECB chief surprises markets with 25 bps rate cut)