Eurozone inflation rises to 3.2% in May
Make us a preferred source
Make us a preferred source on Google
The news: Eurozone inflation has risen above 3% for the first time in two and a half years, ahead of anticipated interest rate hikes from the European Central Bank next week.
The numbers: The EU’s statistics bureau, Eurostat, announced on Tuesday that consumer prices rose 3.2% from a year ago in May.
The context: The inflation figures come just over a week ahead of anticipated rate rises from the ECB, scheduled for June 11. An ECB increase in borrowing costs would be the first since September 2023.
Meanwhile, EU policymakers are considering granting member states budget flexibility to spend around 0.3% of GDP on energy-related spending to cope with high energy costs in the fallout of the Iran war.
The sources: Eurostat, Bloomberg, Financial Times
