Euro-Zone Inflation Dips Closer to 2% as ECB Holds Rates

Euro-area inflation eased slightly but stayed above 2%, backing the European Central Bank’s decision to keep borrowing costs where they are.

Consumer prices rose 2.1% from a year ago in October, down from 2.2% in September. That matched the median estimate in a Bloomberg survey. A measure of underlying pressures that strips out volatile components unexpectedly held at 2.4% as the closely watched services component quickened to 3.4%.