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  • A hawkish German HICP keeps our forecast for Eurozone headline inflation at 2.2% for November…
  • …but the details in Friday’s early EZ inflation numbers, however, tilt dovish, especially for the core.
  • EZ retail sales likely had a slow start to Q4, due to weakness in Spain and Germany.

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Keywords for: 1 December 2025 Eurozone Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence