Inflation eases in Europe, but still in double digits

FRANKFURT, Germany (AP) — Inflation in the 19 countries that use the euro currency eased to 10% this month as fuel and utilities drifted down from painful highs. But it’s still near the record levels that have robbed consumers of spending power and led economists to predict a recession. The European Union’s statistics agency said Wednesday that the consumer price index was down from 10.6% in October. That’s the first decrease since June 2021. But the double-digit figure reflected prices for food, alcohol and tobacco rising faster, at a pace of 13.6% annually. Energy prices slipped to a 34.9% rate of increase, down from the astronomical 41.5% in October.