Euro zone inflation drops to lowest in over two years

Euro zone inflation dropped to its lowest level in over two years in October, as energy prices fell and the high interest rates set by the European Central Bank dampened demand, a preliminary reading showed on Tuesday. The data seems likely to cement the market's view that the ECB is done with raising rates as part of its fight against high inflation, which had been supported by more expensive fuel, supply disruptions and a recovery in demand following the Covid-19 pandemic.

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