Euro-area inflation in November has exceeded the European Central Bank's target of 2%, rising to 2.3% year-on-year. This aligns with the median estimate from a Bloomberg survey of analysts.

Despite the increase in consumer prices, the ECB is expected to continue with interest rate cuts in the coming months. Service costs have remained high, although they have slightly decreased, while non-energy industrial goods have experienced price increases for the second consecutive month, according to Eurostat.

The ECB is unlikely to be deterred by ongoing inflationary pressures as it pursues its strategy of easing monetary policy in response to the economic landscape.