Eurozone inflation ticks back up ahead of ECB meeting next month

The European Central Bank is due to meet on December 12 to decide whether to cut interest rates for a fourth time this year

ECB council member Fabio Panetta said interest rates should be cut so they no longer curb economic growth. Picture: Alessia Pierdomenico/Bloomberg

The inflation rate across the eurozone edged up slightly to 2% during October, with price increases in the services sector being the main driver, new data from Eurostat shows.

This comes as the European Central Bank (ECB) is due to meet on December 12 to decide whether to cut interest rates for a fourth time this year. Rate cuts of 0.25% were already announced in June, September, and October, with one further cut widely expected before the end of the year.