Eurozone inflation on the rise

CGTN Europe

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

Transcript

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.

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