Inflation & Prices
Euro-Zone Inflation Up More Than Expected Before ECB Cut
- Consumer prices rose annual 2.6% in May; median est. 2.5%
- Borrowing costs are still set to be lowered next week
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Euro-area inflation accelerated more than anticipated — further clouding the outlook for European Central Bank interest rates after next week’s planned cut.
Consumer prices rose 2.6% from a year ago in May, up from 2.4% in April, Eurostat said Friday. That’s more than the 2.5% median estimate of analysts in a Bloomberg survey but in line with a Nowcast by Bloomberg Economics.