source: EUROSTAT
The inflation rate in the Euro Area declined to 2.9% year-on-year in October 2023,
reaching its lowest level since July 2021 and falling slightly below the market consensus of 3.1% .
Meanwhile,
The Core Rate, which filters out volatile food and energy prices,
also cooled to 4.2% in October;
marking its lowest point since July 2022.
However,...
This is a big issue for the ECB, and they're very much between a rock and a hard place.
For years the bank has kept policy extremely easy, and the economy has largely become used to this.
However, they are now facing an inflation backdrop that ironically, they probably could only dream of 10 years ago (OK maybe not as high as it currently is, but you get the...
