Inflation isn’t beaten yet. Price rises are accelerating again in Europe
CNN
Europe hasn’t quite shaken off the big, painful problem haunting its economies over the past two years.
Europe hasn’t quite shaken off the big, painful problem haunting its economies over the past two years. Annual inflation in Germany and France, the European Union’s leading economies, rose in December, and analysts expect eurozone data due on Friday to confirm the trend. If it does, it would be the first rise in inflation across the region since April. That could temper excitement among some investors that the European Central Bank (ECB) may be on the brink of cutting interest rates. In Germany, consumer price inflation (CPI) stood at 3.8% in December, up from 2.3% in November, according to an official estimate released Thursday. In France, annual CPI jumped to 4.1% in December from 3.9% the previous month, preliminary data shows. In both cases, energy prices helped drive up the headline rate of inflation. Economists were expecting the upswing in part because governments have been unwinding generous subsidies introduced to support households during the energy crisis of 2022.
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