Euro zone inflation drops to 2.4%, well below expectations – bringing early Christmas cheer

Annual inflation in the euro zone sank to 2.4% in November 2023 from 2.9% in October 2023, data showed Thursday 30th November 2023.

Core inflation was also below expectations at 3.6%.

The European Central Bank has stressed that it is too early to declare victory in the 20-member euro zone bloc, as they monitor potential pressures from wage increases and energy markets.

Headline inflation has now fallen significantly from the peak levels of 10.6% in October 2022.

Target of 2% and is well within reach.

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