Inflation
Eurozone inflation drops to 2-year low as economy contracts
Consumer prices rose 2.9 per cent in October, down from the previous month’s 4.3 per cent
Euro-area inflation decreased to its lowest level in more than two years as the bloc’s economy shrank following an unprecedented increase in interest rates.
Consumer prices rose 2.9 per cent in October, down from the previous month’s 4.3 per cent. In a separate release, Eurostat said third-quarter gross domestic product fell 0.1 per cent — missing estimates for stagnation.
The data show that while the European Central Bank’s 10 back-to-back rate hikes are helping to ...