Eurozone inflation falls more than expected to 10%

Inflation in the eurozone has fallen for the first time in 17 months, stoking hopes that the biggest bull run in a generation has peaked and that the European Central Bank will be able to move into waves. Smaller rate hike next month.

Slowing energy and services prices helped single-currency inflation fell more than expected to 10% in November, down from a record 10.6% in October, according to data from the agency. EU statistics on Wednesday.

Falling wholesale energy prices in Europe combined with the recent easing of supply chain bottlenecks have raised hopes that eurozone inflation is slowing. U.S. inflation also fell in October, and global data indicators show rampant global inflation this year has peaked.

Economists argue that the slowing rate of euro zone inflation it is likely that the ECB will raise interest rates by 0.5 percentage points when its board meets on December 15, after two consecutive 0.75 point increases.

However, price growth in the bloc remains well above the ECB’s 2% target and some policymakers have argued that they need to continue with aggressive rate hikes even as inflation slows to avoid a price spiral. damage wages.

The closely watched core inflation gauge, which excludes more volatile food and energy prices to help economists better understand underlying price pressures, was unchanged at 5%.


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