Inflation in the 20 countries that use the euro currency rose in November — but that likely won’t stop the European Central Bank from cutting interest rates as the prospect of new U.S. tariffs from the incoming Trump administration

Inflation in the 20 countries that use the euro currency rose in November — but that likely won’t stop the European Central Bank from cutting interest rates as the prospect of new U.S. import tariffs from the incoming Trump administration adds to the gloom over weak economic growth.

Eurozone inflation rose to 2.3 per cent in November, exceeding the European Central Bank’s target for the first time in three months. Friday’s rise in consumer prices was in line with economists’ expectations and surpassed October’s figure of 2 per cent,