Inflation ticked up to an annual 2.6% in Europe in May, according to official figures on Friday. That's more than expected as a painful spike in consumer prices takes its time to fade away.
FRANKFURT, Germany (AP) — Inflation ticked up to an annual 2.6% in Europe in May, according to official figures on Friday. That’s more than expected as a painful spike in consumer prices takes its time to fade away.
Inflation in Europe has ticked up for the first time in five months, casting doubt on the possibility of a steady stream of interest rate cuts by the European Central Bank over the next few months.
Consumer prices rose 2.6 percent in the year through May, slightly higher than expected. Still, the European Central Bank seems prepared to cut interest rates next week.
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Euro zone inflation rises to 2.6% in May, but bloc still seen heading for interest rate cut | Since Then