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Eurozone economy shrinks as inflation falls further

The eurozone economy shrank slightly in the third quarter, hurt by the European Central Banks painful rate-hiking campaign, but inflation slowed to its lowest level in more than two years, data showed Tuesday. Consumer price inflation in the eurozone has slowed to 2.9 percent, Eurostat data for October showed Tuesday, the lowest rate since July 2021 when it reached 2.2 percent.
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