Inflation eases in Europe, but still in double digits

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Inflation in Europe has eased for the first time in more than a year, as energy prices drift down from painful highs. Despite a modest easing, the double digit rate still hovers near a record that's robbed consumers of their spending power and led economists to predict a recession and EU agency says the consumer price index in the 19 countries that use the Euro currency hit 10% in November from a year earlier that was a drop from 10.6% in October, the first decrease since June 2021 out of control inflation is being fed by a high energy prices caused by Russia largely cutting off natural gas over the war in Ukraine as well as bottlenecks in supplies of raw materials and parts and rebounding demand after COVID-19 pandemic restrictions ended. Charles De Ledesma, London

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