Eurozone inflation falls more than expected to 10%

International

30-11-2022, 18:21

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INA-source

Inflation in the eurozone has fallen for the first time in 17 months, raising hopes that the biggest global price surge for a generation has peaked and easing pressure on central banks to continue increasing rates aggressively.

A slowdown in energy and services prices helped inflation in the single currency bloc to fall more than expected to 10 per cent in the year to November, down from a record 10.6 per cent in October, according to data from the EU’s statistics agency on Wednesday.

Economists polled by Reuters had forecast a smaller slowdown to 10.4 per cent and now anticipate the European Central Bank will be able to shift to smaller interest rate rises next month.

Source- ft