Inflation eased slightly to 10.7% in November but remains near a four-decade high as the cost-of-living crisis weighs on households and businesses.
The pace of price increases, as measured by the consumer price index (CPI), fell from a 41-year high of 11.1 percent in the previous month, when it was thought to have peaked. Economists had forecast a drop to 10.9 percent.
The rising cost of living has been fueled by a surge in the prices of essentials such as energy and food. Energy prices, which have soared since economies reopened after the pandemic, have remained high since the war in Ukraine curbed oil and gas supplies in Europe.
The fall in inflation is due to a slowdown in price growth
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