Yesterday markets heard eurozone inflation was 10% in November, down from 10.6% in October. This is the first decline markets have seen in 17 months and is expected to be fuelled by soaring energy costs.
Markets heard inflation rates from Italy yesterday which reached 11.8%, higher than the forecasted 11.5%. While in France, inflation met economist expectations coming in at 6.2%, slightly lower than the predicted 6.3%
This data will largely impact the European Central Bank’s major decisions. The central bank is due to meet today for its monthly meeting. Interest rates in the euro area are expected to be 2.50% by the end of this quarter, following the 75 basis points rise that we saw at the end of October.
