Eurozone Inflation Cools to 2.4% in November

Eurozone inflation made a significant drop in November, cooling down to 2.4% from 2.9% in October, flash data showed on Thursday. The reading was also below a 2.7% expectation from economists polled by Reuters.

Core inflation came in at 3.6%, a drop from 4.2% in October and 4.1% expected by economists.

Policymakers from the European Central Bank have long been stressing that it is too early to call a win against inflation in the bloc. The central bank will continue to monitor potential pressures from wage increases and energy markets.

Headline inflation in the bloc has cooled down from its peak of 10.6% in October 2022. It is now slightly above the target level of 2% by the central bank.