MercoPress, en Español

Montevideo, September 29th 2023 - 23:03 UTC



EU slower December inflation could be followed by more interest rate cuts

Thursday, January 5th 2012 - 05:08 UTC
Full article 1 comment
The Euro zone inflation was down to 2.8% The Euro zone inflation was down to 2.8%

Euro zone inflation eased from last year's peaks of 3.0% in December, the first sign of a fall in price growth this year that analysts expect will create room for more interest rate cuts to help the weakening economy.

The European Union's Statistics Office (Eurostat) estimated that consumer prices in the 17 countries sharing the Euro rose 2.8% year-on-year in December down from 3.0 % year-on-year rises in November, October and September.

No detailed break-down of the numbers is available with the Eurostat estimate, but economists said the slower price growth was likely a result of lower energy prices.

The European Central Bank cut its main interest rate back to a record low of 1% on December 8 to try to boost the economy as inflation pressures subside.

Categories: Economy, International.

Top Comments

Disclaimer & comment rules
  • briton

    but the british, are doing just fine, holding our own.

    Jan 05th, 2012 - 07:43 pm 0
Read all comments

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!