Inflation in the euro area falls more than expected to 9.2 percent

A vegetable shop in Paris

Inflation in the euro area is well above the European Central Bank’s (ECB) target of two percent.

(Photo: Bloomberg)

Frankfurt Inflation in the euro area eased further in December. Consumer prices rose by 9.2 percent compared to the same month last year. This was announced by the European statistical office Eurostat on Friday based on an initial estimate. In November, the inflation rate was still 10.1 percent. Experts polled by the Reuters news agency had forecast a figure of 9.7 percent for December.

The European Central Bank (ECB) is actually aiming for a value of two percent for the currency area. Inflation has continued to move away from this mark since mid-2021. The ECB has therefore already raised interest rates in the euro area significantly. The easing of price pressure is likely to fuel the debate on how far the ECB should hike interest rates.

More to come.

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