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Europe’s inflation drops to 2.2%, setting the stage for ECB rate cut in September
Posted on September 9, 2024 |
Inflation in the 20 eurozone countries fell to 2.2% in August, down from 2.6% in July, which may lead to an ECB rate cut.
Energy prices decreased by 3% in August, contributing to the lower inflation rate.
Germany's inflation rate dropped to 2%, aligning with the eurozone’s overall trend.
The August inflation rate is close to the ECB’s 2% target, which is considered ideal.
The ECB is expected to lower its key rate by 0.25 percentage points to 3.5% in its September 12 meeting.
The U.S. Federal Reserve will also likely reduce its rates from 5.25%-5.5% at its September 17-18 meeting.