Inflation rose across the Eurozone, according to the latest figure - albeit by less than expected.
Average consumer prices jumped up 2.2% on the previous month.
#Eurozone #EU #Economy
Average consumer prices jumped up 2.2% on the previous month.
#Eurozone #EU #Economy
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NewsTranscript
00:00You mentioned the figures for the Eurozone. If we widen that out to the broader European
00:06Union, a similar picture. Inflation up at 2.5% for November, from 2.3% we saw the month
00:15before. When we look at some of the winners and losers, a real variety across the EU.
00:21Some of the winners, Lithuania, Ireland, as well as Luxembourg seeing some of the lowest
00:27rates of inflation. Here in Belgium, seeing some of the highest rates of inflation up
00:32at 4.8% last month. If we take a look at Germany, Europe's largest economy, inflation held
00:39steady at 2.4%. However, despite this tick-up in inflation, as you rightly mentioned, less
00:47than analysts were expected. And the European Central Bank doesn't seem too concerned either.
00:53Just last week, for the fourth time this year, they cut interest rates and Christine
00:57Lagarde, the president of the ECB, maintained that essentially things are on the right track.
01:04According to the ECB, they expect in 2025 inflation will be at 2.1% and then by 2026
01:12it will be below the ECB's benchmark of 2% and will be around 1.9%. Christine Lagarde
01:19says that while it's not mission accomplished yet, she says that the dark days of winter
01:24are behind us, but adds that before making any future decisions on interest rate hikes
01:30in the coming months, while she says it's a distinct possibility,
01:33she says any future moves will be data dependent.