Excluding food and energy prices, so-called core inflation rose 3.6 percent, a sharply slower pace than previous months.
“The price to pay is higher interest rates, more difficult financing and therefore an economic slowdown,” he added.
Interest rates were raised from below zero and are now at the highest level in the central bank’s two-decade history.
But Europe is facing a drawn-out economic slowdown as high interest rates and the lingering impact of Russia’s war in Ukraine continue to curb activity.
to start lowering interest rates next year, possibly before the summer.
Persons:
” Bert Colijn, ” Bruno Le Maire, Christine Lagarde, Colijn
Organizations:
ING Bank, European Central Bank, ”, Eurostat, France Inter
Locations:
Ukraine, France, Germany, Spain, Belgium, Europe, United States