Europe’s inflation is up after months of decline. Could it delay interest rate cuts?

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FILE – People walk in the main shopping street ‘Zeil’ in central Frankfurt, Germany, on Aug. 5, 2023. Inflation plaguing Europe rose to 2.9% in December, rebounding after seven straight monthly declines. The rise in price levels cast doubt on predictions for speedy interest rate cuts from the European Central Bank. The figure released Friday Jan. 5, 2024 was up from the 2.4% annual inflation recorded in November — but is well down from the peak of 10.6% in October 2022. (AP Photo/Michael Probst, File)Read More

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FILE – A tram drives past the European Central Bank building in Frankfurt, Germany, on May 2, 2023. Inflation plaguing Europe rose to 2.9% in December, rebounding after seven straight monthly declines. The rise in price levels cast doubt on predictions for speedy interest rate cuts from the European Central Bank. The figure released Friday Jan. 5, 2024 was up from the 2.4% annual inflation recorded in November — but is well down from the peak of 10.6% in October 2022. (AP Photo/Michael Probst, File)Read More

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People walk around in a shopping street in downtown Milan, Italy, during the first day of sales Friday, Jan. 5, 2024. Inflation is on the rebound in Europe. The European Union’s statistics agency said Friday that consumer prices rose 2.9% on a yearly basis in December. It’s the first increase after seven straight months of declines. (Claudio Furlan/LaPresse via AP)Read More

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People walk around in a shop in downtown Milan, Italy, during the first day of sales Friday, Jan. 5, 2024. Inflation is on the rebound in Europe. The European Union’s statistics agency said Friday that consumer prices rose 2.9% on a yearly basis in December. It’s the first increase after seven straight months of declines. (Claudio Furlan/LaPresse via AP)Read More