Eurozone inflation increased to 2.6% in May 2024, according to Eurostat’s announcement on Friday 31st May 2024.
Analysts had anticipated a 0.1% rise from the 2.4% headline figure reported in April 2024.
Core inflation, which omits the unstable effects of energy, food, alcohol, and tobacco, rose to 2.9% from April’s 2.7%. Contrary to the flat reading projected by economists.
A deviation from the expected 0.25% cut at the ECB’s June 2024 meeting would significantly surprise the markets, given the strong signals from policymakers in recent weeks.