Eurozone inflation falls to 2.4 percent

Will the European Central Bank soon be able to achieve its 2% inflation target? Despite everything, there are still some obstacles and pitfalls. How serious is the risk of it failing completely?

DrEurozone inflation is now not particularly far from the European Central Bank’s 2 percent target. As the European statistics office Eurostat announced on Thursday, according to a preliminary estimate, the inflation rate in November reached 2.4 percent. From September to October, it actually fell to less than 3 percent. The gap between the ECB’s target is now just 0.4 percentage points.

There are still significant differences between individual euro countries. In Germany, the rate fell to 2.3 percent, in France to 3.8 percent, and in Italy to 0.7 percent, according to the European method of calculating the Harmonized Index of Consumer Prices (HICP), which is used to make comparisons with other countries. In fact, the inflation rate in Belgium is negative. Latvia, whose rate was in the double digits for a long time, is now 1.1 percent. Slovakia now has the highest rate in the eurozone at 6.9 percent.