Inflation drops sharply in Europe. It offers a glimmer of hope, but higher oil prices loom

Inflation is down in Europe. The official figure fell to 4.3% in September for the 20 countries that use the euro, down from 5.2% in August. That raises hopes consumers will eventually get relief from costlier groceries, vacations and haircuts and that the European Central Bank could avoid raising interest rates again. But watch out: economists say some of the dip is just a statistical quirk. And if oil prices rise any further, a hoped-for decline in inflation will slow. High prices have been holding back the European economy because people’s paychecks don’t go as far as they used to in covering their bills, forcing them to avoid other spending.