Euro Zone Inflation Surges to 2.6% in May, Prompting Rate Cut Expectations from 30 april sh Watch Video
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⏲ Duration: 0:43 👁 View: 605K times ✓ Published: 01-Jun-2024
Description: Eurozone inflation increased to 2.6% in May 2024 from 2.4% in April, as both headline and core inflation came in higher than economists expected. Services inflation, an important metric for the ECB, rose to 4.1%. Markets continued to fully price in an interest rate cut by the ECB at its June meeting, following signals from policymakers that a cut is likely. Inflation has cooled significantly from a peak of 10.6% in October 2022 but has remained below 3% for the past eight months. The euro was slightly higher against the dollar and pound after the inflation release.
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