Eurozone inflation rose to 2.4 per cent in December, in the third rise in as many months. The figure was in line with market expectations, according to a survey of economists by Reuters, and compared with November’s rate of 2.2 per cent.

Inflation in the eurozone rose further above the European Central Bank’s target in the final month of 2024, although that is unlikely to dissuade policymakers from lowering borrowing costs again this month to support a faltering economy.

Eurozone inflation rose in December as energy prices slightly ticked up, official data showed Tuesday, rebounding for a third straight month but unlikely to stop another interest-rate cut by the European Central Bank.