Regions_Riyadh
The inflation rate decreased in the single European currency area during the month of November, compared to the previous month.
The European Statistical Office “Eurostat” stated that consumer prices in the euro area, which includes 19 countries, rose in November at an annual rate of 10.1 percent, compared to 10.6 percent in the previous month.
Bloomberg News reported that the first slowdown in inflation in a year and a half allowed the European Central Bank to slow the pace of interest rate hikes this week, raising borrowing costs by half a point, following raising them by 75 basis points the previous two times.
However, with consumer prices expected to continue to rise more than the 2 percent target until 2025, European Central Bank President Christine Lagarde has hinted that interest rates will be raised by half a point during the first two meetings of the bank next year.
