Economy

ECB 2% target in sight as Eurozone inflation slows more than expected

Consumer prices rose 2.4 per cent in the year to November — down from 2.9 per cent the previous month

Inflation is undershooting analyst expectations across the 20-nation euro area following the ECB’s unprecedented ramp-up in interest rates. Picture: Getty

Euro-zone inflation cooled more than expected, putting the 2 per cent target in sight as investors step up bets that the European Central Bank will cut interest rates sooner than officials suggest.

Consumer prices rose 2.4 per cent from a year ago in November — down from 2.9 per cent the previous month and less than the estimates of all economists in a Bloomberg poll. Price pressures continued easing across almost all categories and remained ...