Euro zone inflation rises to 2.6% in May, but bloc still seen heading for interest rate cut

Euro zone inflation rises to 2.6% in May, but bloc still seen heading for interest rate cut

General view of the center of Corfu with a little restaurant in Old Town in Corfu, Greece, in May 2024.

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Inflation in the euro zone rose to 2.6% in May, statistics agency Eurostat said Friday, but a higher-than-expected print did not sway market bets of an interest rate cut from the European Central Bank next week.

Economists polled by Reuters had forecast a 0.1 percentage point increase from April’s headline figure of 2.4%.

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