Eurozone HICP rose to 3.2% in May, the highest since September 2023. Services inflation hit 3.5% even as the sector contracted, a cost-push stagflation configuration the ECB's June 11 hike cannot resolve.
ECB Vice-President Boris VujΔiΔ addressed the evolution of Economic and Monetary Union on June 2, adding to the policy backdrop ahead of the June 11 meeting where markets price in a 25 basis point rate hike. Source
