Salem Radio Network News Tuesday, December 5, 2023


Inflation drops sharply in Europe, but higher oil prices loom


( ) -q-30- UNDATED (Correspondent Jeremy House) “inflation will slow.”

Inflation has sharply dropped in Europe.

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TAG: Correspondent Jeremy House reporting. High prices have been holding back the European economy because people’s paychecks don’t go as far as they used to in covering their bills, forcing them to avoid other spending.

VERBATIM: The official figure from the European Union’s statistics agency was 4.3% in September for the 20 countries that use the euro. That’s down noticeably from 5.2% in August. That raises hopes consumers will eventually get relief from costlier groceries, vacations and haircuts and that the European Central Bank could avoid raising interest rates again. But economists say some of the dip is a statistical quirk. And if oil prices rise any further, a hoped-for decline in inflation will slow.

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