EU flags flutter in front of European Central Bank (ECB) headquarters in Frankfurt, Germany July 18, 2024. REUTERS/Jana Rodenbusch/File Photo
FRANKFURT: Euro zone inflation eased below the European Central Bank's target last month, data showed on Tuesday, underpinning expectations for another interest rate cut this week, even as global trade tensions fuel longer-term price pressures.
Consumer price inflation in the 20 countries sharing the euro slowed to 1.9% in May from 2.2% a month earlier, below expectations for 2.0% on a fall in energy prices and a sharp decline in services inflation.
