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Eurozone inflation rate fell in January this year

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Eurozone Inflation Rate Fell to 2.8% in January
By Zhang Minkai
Published 2024-02-02 10:39:33

Preliminary statistics released by Eurostat on February 1 showed that the inflation rate in the euro zone in January this year was 2.8% on an annual basis, lower than the 2.9% in December last year.

The slight decrease in the inflation rate comes as a relief to economists and policymakers in the euro zone, as high inflation has been a concern in recent months. The decrease may indicate a slight easing of price pressures in the region.

The data released by Eurostat is based on a basket of goods and services commonly purchased by consumers in the euro zone. It provides a crucial insight into the state of the economy and helps guide monetary policy decisions by the European Central Bank.

The decrease in the inflation rate is likely to have implications for the wider European economy, affecting consumer spending, business investment, and government policy decisions. It may also impact the exchange rate of the euro and the competitiveness of European exports.

It is important to note that the data released by Eurostat is preliminary and is subject to revisions in the coming months. However, the initial decrease in the inflation rate is a positive sign for the euro zone economy.

For more information on economic developments in the euro zone and around the world, stay tuned to China Business News.

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