Eurozone inflation climbs to 2.3%, driven by service and food prices, as ECB prepares for a rate cut.

Eurozone's annual inflation rate rose to 2.3% in November, up from 2% in October, mainly driven by a 3.9% increase in service prices. Food, alcohol, and tobacco prices also saw a 2.8% rise. The European Central Bank (ECB) is expected to cut interest rates by 25 basis points in December, marking its fourth reduction this year, despite the increase in inflation. Core inflation, excluding volatile items, remained at 2.7%.

November 29, 2024
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