Photo: Tobias SCHWARZ / AFP/FileSource: AFPThe annual rate of inflation in the eurozone fell to a more than two-year low in November, the EU's official statistics agency said Thursday. Consumer price increases in the 20-nation single currency bloc reached 2.4 percent, Eurostat data showed, the lowest since July 2021. Inflation has steadily dropped since it reached a peak of 10.6 percent in October 2022 following the upheaval in markets wrought by Russia's war on Ukraine. Core inflation, which strips out volatile energy, food, alcohol and tobacco prices, also slowed to 3.6 percent in November from 4.2 percent in October. There was also a glimmer of hope for Europe's biggest economy as inflation slowed further in Germany, to reach 2.3 percent in November from 3.0 percent in October, the agency's data showed.

Source: Daily Nation December 01, 2023 00:35 UTC