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The Independent UK
The Independent UK
National
David McHugh

Europe's inflation is up after months of decline. It could mean a longer wait for interest rate cuts

Inflation Europe Euro ECB European Union
Copyright 2023 The Associated Press. All rights reserved

Inflation plaguing Europe rose to 2.9% in December, rebounding after seven straight monthly declines. The rise in price levels cast doubt on predictions for speedy interest rate cuts from the European Central Bank.

The figure released Friday was up from the 2.4% annual inflation recorded in November — but is well down from the peak of 10.6% in October 2022.

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