Eurozone inflation falls to 2.4 per cent
The fall in inflation is one of the clearest signs yet that the ECB’s interest rate hikes are working
In one of the clearest signs yet that the interest rate hikes are working, eurozone inflation fell to 2.4 per cent in November, putting the 2 per cent target in sight after a long battle.
Since July 2022, the ECB has made ten successive moves to raise interest rates in a bid to control inflation. However, in October the ECB decided not to raise rates at a meeting in Athens.
Consumer prices in the eurozone 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 at a two-year low.
