2.4 percent: Inflation rate in the Eurozone dropped significantly to 2.4 percent

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While inflation was 2.9 percent in the previous month, this rate was 10.1 percent a year ago. In November, prices decreased by 0.5 percent on a monthly basis.

Core inflation, which excludes volatile prices of energy and food, also fell significantly. In this view, the inflation rate decreased from 4.2 percent to 3.6 percent. According to many economists, core inflation reflects underlying inflation and therefore represents the inflation trend somewhat better than the overall rate.

Although food and beverages are still significantly more expensive than a year ago, price growth slowed to 6.9 percent from 7.4 percent. Prices of services and other goods also increased more slowly than in the previous month. Energy prices again fell significantly by 11.5 percent.

Despite falling price inflation, the European Central Bank’s (ECB) medium-term inflation target of 2 percent is being exceeded. Many experts think it will take some time to achieve the goal sustainably. The ECB has raised key interest rates sharply since summer 2022 but left them unchanged anytime soon.

(SDA)

Source :Blick