Eurozone inflation rises to 2.3% in November, exceeding ECB target

Eurozone inflation increased to 2.3% in November, surpassing the European Central Bank's target for the first time since August. This rise follows October's inflation rate of 2%, which matched the ECB's goal. The increase is attributed mainly to base effects from last year's energy price drop, rather than strong underlying price pressures. Economists do not expect this to prevent the ECB from cutting interest rates again. Most analysts anticipate the ECB will reduce borrowing costs by a quarter point to 3% at its upcoming meeting on December 12, marking the fourth rate cut this year.