Euro area CPI edges higher

The cost of living in the single currency area edged higher in November on the back of higher prices for energy and unprocessed food.

Consumer prices in the single currency bloc were up by 0.6% year-on-year, marking a slight pick-up from the prior month's reading of 0.5%, Eurostat said.

In comparison to October, CPI was down 0.1%, with prices in France and Germany flat, up by 0.2% in Spain and lower by that same amount in Italy.

Excluding energy, food, alcohol and tobacco, or at the so-called 'core' level, consumer prices declined by 0.2% on the month, with the year-on-year rate steady at 0.8%, versus 0.9% in November 2015.