The annual rate of inflation as measured by the Harmonised Index of Consumer Prices (HICP) was 7.2% in November, down from 7.4% the previous month.

The National Statistics Office said the 12-month moving average rate for November stood at 5.8%.

The highest annual inflation rates in November were recorded in food and non-alcoholic beverages (13.4%) and housing, water, electricity, gas and other fuels (10.4%). 

The lowest annual inflation rates were registered in communication (2.6%) and alcoholic beverages and tobacco (2.7%).

The HICP measures monthly price changes in the cost of purchasing a representative basket of consumer goods and services. It is calculated according to rules specified in a series of European Union regulations and is used to compare inflation rates across the EU. A closely related measure of price movements is the Retail Price Index. 

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