Euro-area inflation climbed above the European Central Bank’s 2% target, though officials are unlikely to be deterred from continuing to lower interest rates next month and beyond.

Inflation rose above the European Central Bank’s target in the eurozone this month, though likely not enough to deter policymakers from cutting interest rates for a third straight meeting next month.

Euro zone inflation accelerated in November and its most closely watched components remained high, data showed on Friday, adding to the case for a more cautious European Central Bank interest rate cut next month.