Inflation Jumps to 2.9% Beyond Expectations as ECB Prepares for June Rate Cut
Frankfurt, Germany – Inflation data released today revealed a rise in core inflation, excluding the volatile effects of energy, food, alcohol, and tobacco. The increase to 2.9% from 2.7% in April surpassed economists’ expectations of a flat reading. The European Central Bank (ECB) is widely anticipated to cut interest rates at its upcoming meeting on June 6, marking the first reduction since 2019. The central bank for the 20-nation euro area had initiated a hiking …