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Euro area consumer price inflation rose in December, mainly due to the energy-related base effects, while the core measure remained strong despite slowing slightly, underpinning the European Central Bank's policy stance that it is too early to think of interest rate cuts as there is more work to be done to bring price growth to the 2.
Eurozone inflation accelerated again in December for the first time since September, with consumer prices up 2.9% on the year, according to an initial estimate from Eurostat on Friday. The European Union's statistical authority put annual inflation in November at 2.4%, the lowest level since the summer of 2021. Analysts had expected the December rise. On a month-on-month basis, the December rate came in at 0.2%. The trend seemed to bolster the European Central Bank's position that it is too earl
Bottles of wine are on display at a supermarket in Brussels, Belgium, on May 31, 2024. (Xinhua/Zhao
Employment rates in OECD countries remain resilient, especially in Europe, where record highs have been recorded despite central banks’ monetary tightening to stem inflation. Labour shortages continue to challenge businesses, averting wide layoffs. The number of people employed has risen, but the average hours worked have not corresponded.
Pound to Euro Outlook: GBP/EUR Exchange Rate Narrow as Eurozone Inflation Cools