Weak Energy Prices Push Eurozone Inflation Back To 0.3%

Inflation in the eurozone fell to 0.3% in November, down from 0.4% in October, building a stronger case for the European Central Bank to launch more monetary stimulus. The data, published by Eurostat on Friday, showed the headline number was hit by a sharp decline in energy prices. The so-called core inflation reading that strips out the effects from energy, food, alcohol and tobacco stayed at 0.7%. The data set comes as investors are waiting to see if the European Central Bank will announce more easing measures at its meeting next Thursday to help revive the struggling eurozone economy. In other data news on Friday, the unemployment level for the eurozone remained at 11.5% in October. The euro slightly trimmed losses after the figures, trading at $1.2447, up from $1.2435 ahead of the release.