Annual headline inflation ticked up from 0.7% in October to 0.9% in November, which was just below market expectations of an acceleration to 1.0%. Inflation remains outside the Central Bank’s tolerance margin of plus/minus 1.0 percentage points around its target of 2.0%. Meanwhile, annual average inflation was unchanged, holding steady at 0.9% for the second consecutive month. Core annual inflation, which excludes volatile items such as gasoline and fresh food, inched down from 1.2% in October to 1.1%.
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