Inflation in the eurozone rose in November, with the European Union's harmonized index of consumer prices increasing to 2.3% from 2.0% in October, as reported by the EU statistics agency Eurostat. Energy prices fell by 1.9% year-over-year, while the services sector saw price increases of 3.9%, encompassing various services such as haircuts, medical treatment, hotels, restaurants, and sports and entertainment.
Since reaching a peak of 10.6% in October 2022, inflation has significantly decreased, prompting the European Central Bank (ECB) to adjust interest rates. The ECB initially raised rates to combat rising prices but began cutting them in June due to concerns about economic growth.
