Inflation in Europe falls to 2.4% as interest rates pack a punch. But the economy has stalled
1 year ago

Inflation in Europe falls to 2.4% as interest rates pack a punch. But the economy has stalled

Associated Press  

LONDON — Europeans again saw some relief as inflation dropped more than expected to 2.4% in November, the lowest in over two years, as plummeting energy costs have eased a cost-of-living crisis but higher interest rates squeeze the economy’s ability to grow. The new figure is close to the European Central Bank’s inflation target of 2% following a rapid series of interest rate hikes dating to summer 2022. ECB President Christine Lagarde reiterated this week that the bank would make decisions based on the latest data and keep rates high as long as needed to reach its inflation goal. That’s on stark display in Germany, Europe’s largest economy, which saw annual inflation fall to 2.3% this month from 3% in October.

History of this topic

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