Economics
Euro-Area Inflation Misses Estimates as Unemployment Falls
- Consumer prices rise annual 1.5% vs estimated 1.6% gain
- Jobless rate unexpectedly declines to 8.8% from 8.9%
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The European Central Bank got a reminder that the improving economy doesn’t guarantee a return of inflation to its goal, as unemployment unexpectedly dropped but consumer-price growth missed estimates.
The jobless rate slid to 8.8 percent in October, the lowest in almost nine years. Yet November inflation edged up to just 1.5 percent, missing the 1.6 percent prediction in Bloomberg survey, and underlying price pressures failed to pick up at all.