German inflation fell more than expected to 2.3 per cent in November, raising questions about whether the European Central Bank may soon need to consider cutting interest rates.
The figure — mirroring a similar undershoot by Spanish inflation relative to forecasts earlier on Wednesday — signals that eurozone inflation is also likely to fall below expectations when that data is released on Thursday.
Some economists responded by cutting their forecasts for eurozone annual price growth, which was already expected to drop from 2.9 per cent in October to a more than two-year low of 2.7 per cent in November. Goldman Sachs cut its forecast to 2.5 per cent.
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