Frankfurt (Archyde.com)
Inflation in the Eurozone fell by much more than expected in November, boosting hopes that the European Central Bank will ease the pace of rate hikes at its meeting next month.
Consumer prices in the 19-nation single currency increased by 10 percent this month after rising 10.6 percent in October. The increase was much lower than the 10.4 percent forecast of analysts polled by Archyde.com.
Data published by the European Union’s statistics office “Eurostat” yesterday showed that the picture in general is more accurate, and indicated that energy prices accounted for the bulk of the slowdown, while inflation in food prices, which is a source of great concern, continued to accelerate.
The European Central Bank raised interest rates at the fastest pace ever this year to combat inflation, which remains more than five times its target. He is likely to announce a series of hikes over the coming months, as taming high prices may take years.