Eurozone Inflation Falls for First Time in 17 Months,Yet Remains Still High at 10 Percent

European Central Bank President Christine Lagarde speaks during a news conference following the ECB's monetary policy meeting in Frankfurt, Germany, on Oct. 27, 2022. Wolfgang Rattay/Reuters

Annual inflation in the eurozone is expected to fall in November, according to a flash estimate by Eurostat, the statistical office of the European Union.

Twelve-month inflation for November 2022 is projected to be at 10 percent, down from the 10.6 percent in October, according to an agency news release on Nov. 22. This is the first decline in the annual inflation rate in 17 consecutive months.