In May, inflation in the eurozone rose by 2.6 percent compared to April’s 2.4 percent, according to a provisional estimate by Eurostat. This increase was higher than expected by analysts who had anticipated an average expectation of 2.5 percent. Despite this increase in inflation, it is unlikely to affect the anticipated interest rate cut that the ECB is expected to decide on at its next meeting on June 6. Interest rates are currently at record highs.
In Belgium, inflation remained stable at 4.9 percent in May, making it the country with the highest inflation rate in the eurozone for the second consecutive month, according to Eurostat calculations. Analysts had anticipated a slight acceleration in inflation, with an average expectation of 2.5 percent. The European Central Bank (ECB) aims for an inflation rate of 2 percent on a monthly basis, consumer prices rose by 0.2 percent.
