Eurozone inflation finally slows in sign of hope for European Central Bank

Prices in Ireland increased an estimated 9 per cent in the 12 months to the end of November compared to a 9.4 per cent increase the previous month

ECB officials have highlighted the data as crucial for their judgement over whether to raise interest rates by 75 basis points for a third straight time - an outcome that may now be less probable. Picture: Getty

Eurozone inflation slowed for the first time in months on Wednesday offering hope to the European Central Bank in its struggle to quell the worst consumer-price shock in a generation.

The reading for November was 10 per cent, according to Eurostat, less than the 10.4 per cent median estimate of economists surveyed.

The drop, from 10.6 per cent in October, was the biggest since 2020 and was largely due to slower advances in energy and ...