Inflation seen peaking next month 'and falling to 2% by the end of 2023'

The headline inflation rate in the eurozone 'will peak at around 11% in December then fall to just over 2% by the end of 2023'.

Inflation in the eurozone will likely peak next month at 11% and fall back to 2% by the end of next year, according to leading economics consultancy.

Falling prices of European wholesale gas will help in time to rein in the price pressures on household utility, and so-called core inflation which excludes energy will take a while longer to fall, Jack Allen-Reynolds, senior Europe economist at Capital Economics has predicted.