Consumer prices were unrevised in the final data for November. A 0.3 percent monthly gain lifted the annual inflation rate by 0.2 percentage points to 1.8 percent, equalling its highest reading since April.
The final HICP followed suit, also posting a 0.3 percent increase versus October and a 1.8 percent yearly rate. Both outturns matched their earlier flash estimates.
The acceleration in the annual CPI rate was largely attributable to energy where inflation more than trebled to 3.7 percent. However, the pick-up here was essentially offset by a smaller increase in food charges (3.2 percent after 4.3 percent). As a result, prices excluding both these categories matched their 0.3 percent headline monthly rise. In turn, this saw the underlying yearly rate gain 0.3 percentage points to 1.5 percent, fully reversing October's decline.
The final report for November reaffirms a slowly rising trend in core consumer prices. Sustained economic strength combined with clearly increasing pressures on capacity should see this profile extended over coming quarters.