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Inflation in Europe drops for the first time in 17 months

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"Consumer prices rose by 10% in the year to November, according to the first look at official data for the 19 countries that use the euro. That’s down from a record 10.6% jump the previous month, and is lower than economists had expected. In Germany, the bloc’s biggest economy, annual inflation slid to 11.3% from 11.6%, while price gains in France held steady at 7.1%, Wednesday’s data showed. Inflation in Italy ticked down to 12.5% from 12.6%, while Spain saw a larger decline, to 6.6% from 7.3%. Prices are still climbing at an uncomfortably fast clip, however, driven up by the increasing cost of energy and food. Double-digit inflation remains a huge problem for policymakers, who have indicated they will press ahead with efforts to get prices under control. Still, the November numbers could give the European Central Bank space to boost rates by half a percentage point instead of by three-quarters of a percentage point when it meets next month." 11/30/22 https://edition.cnn.com/2022/11/30/economy/europe-inflation/index.html

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cnn

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inflation

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bear market

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easing

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price

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consumer

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europe

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euro

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france

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germany

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