Eurozone inflation reached 2% in October, meeting the ECB's target; core inflation remained at 2.7%.

Eurozone inflation increased to 2% in October, surpassing expectations and aligning with the European Central Bank's (ECB) target. This rise, driven by higher food costs, may influence the ECB to implement a smaller rate cut in December. Core inflation remained stable at 2.7%, while unemployment held at a record low of 6.3%. Despite the inflation uptick, the ECB is expected to proceed with further rate reductions to support economic growth.

October 31, 2024
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