Five Things You Need to Know to Start Your Day

More inflation, oil hits three-year high, and back to the office.

Inflation in the euro area climbed to 2% in May, the highest level in more than two years. The news comes on the back of German inflation data yesterday, which showed the annual rate rising to 2.4% and European data signaling that price pressures are building in the region’s factories. Investors are still not getting too excited about the prospects of sustained price rises, however, as policy makers stick to their message that the move higher will be brief.