Euro-Area Core Inflation Eases But Won’t Stop ECB Hiking
- Underlying consumer prices grew 5.3% from year ago; est. 5.5%
- Lagarde says ‘we still have ground to cover’ on rates
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Underlying inflation in the euro zone dipped by more than expected, though European Central Bank President Christine Lagarde said there’s “no clear evidence” that it’s peaked and pledged to lift interest rates further.
Consumer prices excluding items like fuel and food advanced by 5.3% from a year earlier in May — down from April’s 5.6% increase and less than the 5.5% median estimate in a Bloomberg survey of economists.