Inflation falls in the eurozone for the second consecutive month

The Eurozone’s inflation rate unexpectedly fell for the second consecutive month in December, according to new data released by the European statistical agency Eurostat.

Inflation dropped to 9.2%, down from 10.1% in the previous month, driven largely by a slowdown in the cost of energy. Prior to this decrease, inflation had been steadily increasing since October, reaching an all-time high of 10.6%.

Analysts at Bloomberg and Factset had expected inflation to be 9.5% and 9.7% respectively, in December, but the rate fell below even these estimates.

Within the energy sector, electricity, gas, and oil, continued to experience a high rate of annual price increase in December, but there was a significant decrease from 34.9% to 25.7%.

The Eurozone is now making steps towards slowing down the rate of inflation, but it is unclear how sustained the change will be.

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