2023-11-30 14:33:48
A year ago, inflation was 10.1 percent. According to Eurostat, it is now only 2.4 percent. What about food prices?
Luxemburg.
Inflation in the euro zone weakened significantly in November. Consumer prices were 2.4 percent above the level of the same month last year, as the Eurostat statistics office in Luxembourg announced. In the previous month, inflation was 2.9 percent and a year ago it was 10.1 percent. On a monthly basis, prices fell by 0.5 percent in November.
Core inflation, which excludes volatile prices for energy and food, also fell significantly. In this view, the inflation rate fell from 4.2 to 3.6 percent. According to many economists, core inflation reflects basic inflation and therefore represents the inflation trend somewhat better than the overall rate.
Although food and beverages were still significantly more expensive than a year ago, the price increase weakened from 7.4 to 6.9 percent. Prices for services and other goods also rose more slowly than in the previous month. Energy prices fell again significantly by 11.5 percent.
Despite the declining price inflation, the European Central Bank’s (ECB) medium-term inflation target of two percent is being exceeded. Many experts expect that it will take some time until the goal is achieved sustainably. The ECB has raised its key interest rates sharply since summer 2022, but recently left them unchanged. (dpa)
More reading comfort even when you’re on the move E-paper and news in one app Push notifications throughout the day
No thanks. Continue in this view.
#Inflation #Eurozone #falling #significantly #Free #press