Major euro zone economies report higher May inflation
Inflation in major euro zone economies stayed above 2% in May as fuel costs impacted prices. This data likely secures an ECB rate hike for the next month.
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Inflation in the four largest euro zone economies remained above the 2% target for a third consecutive month in May. The preliminary data increases the likelihood that the European Central Bank will raise interest rates next month. Investors are now assessing whether high fuel costs triggered by the conflict in Iran are creating a permanent floor for regional prices.
