Eurozone inflation drops to 2.4%

From 2.9% in October

Inflation in the eurozone is expected to drop to 2.4% in November 2023, according to the latest data from Eurostat.

The figure marks a 50 basis points drop from its 2.9% level in October 2023. Global investor worries about inflation and central banks are 'rapidly diminishing' Eurostat said the main components of eurozone inflation for the month were food, alcohol and tobacco, which are expected to have the highest annual rate for the month at 6.9%, although this is still down from 7.4% last month. Other key components include services (4%), non-energy industrial goods (2.9%) and energy (-11.5%). Daniele Antonucci, CIO at Quintet Private Bank, noted Eurostat's estimates came in "below the lowe...