Euro zone inflation rises to higher-than-expected 2%, weakening case for jumbo rate cut
In the Netherlands on Oct. 27, 2024, there was a display of pumpkins. Inflation in the 20-nation euro zone rose to 2% in October, exceeding expectations. The increase was mainly driven by higher prices in food, alcohol, and tobacco. Core inflation, excluding volatile components, remained steady at 2.7%. The euro strengthened against the U.S. dollar…