European Central Bank official announcements

Eurozone Inflation Rises to 2.6% in May, Highest Since February, ECB Prepares Rate Cut

May 31, 2024, 09:13 AM

Eurozone inflation rose to 2.6% in May, according to data released on Friday. This figure is in line with forecasts and marks the highest inflation rate since February. ECB's Panetta commented that the rate is 'neither good nor bad' and it aligns with expectations. The May CPI inflation rose 2.6% Y/Y, with an estimate of 2.5% and a previous rate of 2.4%. Despite the rise in inflation, the European Central Bank is still preparing to cut interest rates, indicating a slow and uncertain journey to control prices.