EU Consumer prices advanced

Consumer prices climbed in the Euro zone last month, official figures revealed on Wednesday. According to the Eurostat, the CPI came in at annualized 0.6% in November, up from 0.5% rise in October, the largest gain since May 2014. On a yearly basis, the core CPI came in at 0.8% unchanged from the prior month and matching analysts' expectations. The slump in energy prices was fractionally higher at annual 1.1% compared with 0.9% previously. In the meantime, oil prices felt from the highest level in October, though stayed greater than the 7.3% decrease in November 2015. The yearly growth in food and beverages prices advanced to 0.7% from 0.4% the previous month. The so-called core CPI, which excludes food, energy, alcohol and tobacco, held steady at 0.3% on an annual basis in the same month, meanwhile the service sector CPI was unchanged with a slight step lower from 1.2% in November 2015.  Although core inflation holds at 0.8%, price increases stays below the European Central Bank aim of 2% despite sustaining an accommodative monetary stimulus.

After the release, the Euro rose 0.14% against the US Dollar to trade at 1.0640, while Germany's DAX traded up 0.13%, France's CAC 40 advanced 0.24% and London's FTSE 100 gained 0.16%.